Bitcoin

April

<ul>
 <li>Bukele took the step in April of doing away with all taxes on technological advancements.</li>
 <li>El Salvador may follow Singapore’s model and become a financial hub in the Americas.</li>
</ul>
Strategy consultant at investment management company <a href="https://thenewscrypto.com/several-ether-futures-etfs-go-live-including-vanecks/" target="_blank" rel="noopener noreferrer nofollow">VanEck</a>, Gabor Gurbacs, believes that El Salvador may follow Singapore’s model and become a financial hub in the Americas.
Gurbacs on a twitter post stated:
<blockquote class="wp-block-quote">
 “I say often to portfolio managers and asset allocators that El Salvador has the potential to become the Singapore of the Americas.”
</blockquote>
<h3 class="wp-block-heading" id="new-land-of-the-free">New Land of the Free</h3>
Gurbacs predicts that fresh capital investment and immigration will be the key drivers of <a href="https://thenewscrypto.com/el-salvadors-volcano-energy-launches-first-local-bitcoin-mining-pool/" target="_blank" rel="noopener noreferrer nofollow">El Salvador’s</a> enhanced economic development during the next few years, similar to what Singapore accomplished in the latter stages of the 1990s.
Moreover, his remarks are in reaction to a tweet by American journalist and Bitcoin advocate Max Keiser from October 28 with the title “Move to #ElSalvador, The New Land of the Free.”
Keiser, who relocated to El Salvador, argued that the Central American nation should be on everyone’s notice for a number of reasons, including the legal validity of Bitcoin and the U.S. dollar, a clean-up of Salvadoran crime, excellent beaches, and amazing coffee.
Also, after <a href="https://en.wikipedia.org/wiki/Nayib_Bukele" target="_blank" rel="noopener noreferrer nofollow">Nayib Bukele</a> was elected president of El Salvador in June 2019, the country’s developing economy received greater attention. Sovereign bonds issued by El Salvador have beaten several other developing markets so far this year, with returns of 70% or more as of August.
<a href="https://twitter.com/Volcano_Energy?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" target="_blank" rel="noopener noreferrer nofollow">Volcano Energy</a>, which debuted in June after receiving a $1 billion investment, is one example of a company in El Salvador using the country’s volcanic resources to power its operations. Moreover, to encourage more entrepreneurs and international investment, Bukele took the daring step in April of doing away with all taxes on technological advancements.
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VanEck’s Strategy Advisor Foresees El Salvador as Key Financial Hub

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