Vision

Bitcoin

Time

<p>In a context of turmoil in the cryptocurrency market, El Salvador maintains the course of its daily Bitcoin acquisition policy. This bold decision raises questions about the long-term viability of the Central American country’s crypto strategy.</p>
<h2 id="h-an-unwavering-determination">An Unwavering Determination</h2>
<p>Salvadoran President Nayib Bukele remains steadfast in his crypto vision, despite the recent fluctuations in Bitcoin. Since March 2024, the country has been pursuing its goal of buying one Bitcoin per day, regardless of market conditions.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>This <a href="https://www.cryptopolitan.com/el-salvador-maintains-1-btc-a-day/" target="_blank" rel="noopener noreferrer nofollow">constant accumulation strategy</a>, irrespective of market fluctuations, reflects a long-term perspective on Bitcoin’s potential.</p>
<p>El Salvador currently holds approximately 5,700 BTC. To secure this substantial investment, Bukele has transferred the funds to a “cold wallet,” an offline wallet deemed more secure. This strategic decision aims to protect national assets against hacking risks.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-the-vision-of-a-bitcoin-economy">The Vision of a Bitcoin Economy</h2>
<p>Beyond simple acquisitions, El Salvador harbors broader ambitions to integrate Bitcoin into its economy. The project to create a <a href="https://www.cointribune.com/en/el-salvador-bukele-launches-pro-bitcoin-bank-project/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin bank</a>, mentioned by Bukele in June, illustrates this desire. This institution would facilitate transfers between Bitcoin and the US dollar, potentially opening new opportunities for investors and citizens.</p>
<p><a href="https://www.cointribune.com/en/crypto-max-keiser-warns-of-potential-drop-in-solana-sol/" target="_blank" rel="noopener noreferrer nofollow">Max Keiser</a>, the president’s Bitcoin advisor, actively supports this initiative. He anticipates positive economic impacts, including a rise in GDP and an improvement in the country’s credit rating within the next two years.</p>
<p>These optimistic projections, however, contrast with warnings from some economists about the risks of such dependence on a volatile currency.</p>
<p>In short, El Salvador’s bet on Bitcoin remains bold in an uncertain market. While other nations, like Argentina, are showing interest in cryptos, the world is closely watching this unique economic experiment. Time will tell whether this strategy will make El Salvador a visionary pioneer or expose it to major financial risks.</p>

El Salvador Sticks to Bitcoin Strategy Amid Volatile Market

Daftar Isi

Cointribune EN

Artikel lain yang dipublikasikan pada 5 Jul 2024

Multicoin Capital Announces $1M Match For Pro-Crypto Senate Candidates In Solana Donations

ApeBond Announces Expansion to Base: Launching Bonds On-Chain

The Bitcoin Price Plunges Below $56K Amid Mt. Gox Selloff Fears And Massive Liquidations, But Tra...

VanEck Sees Bitcoin Crash as a Buying Opportunity

Is It the Right Time to Buy Bitcoin?

What’s Next For Ethereum (ETH) as Price Hovers $3,000?

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!