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“In the short term, it will create jobs and contribute to raising funds for thousands outside the formal economy,” Buke said in a video aired at the 2021 Bitcoin conference in Miami. He said he would submit a bill to the legislature next week.
In a series of tweets, the 39-year-old leader said Bitcoin could boost the economy. He added that low bank infiltration in El Salvador – 70% of the population does not have a bank account – could also be upgraded with Bitcoin, which would help speed up the conversion of $ 6 billion a year.
“Financial consolidation is not only a moral imperative, but also a means to grow the country’s economy, providing access to credit, savings, investments and secure transactions,” he said. “We hope this decision marks the beginning of a space where some leading innovators can reconsider the future of the fund.”
El Salvador’s bonds fell last month after Buccaneer’s party used a majority to oust five top judges and the attorney general in the February congressional election. Wall Street responded quickly, selling notes at six companies, including Oppenheimer & Co., Amherst Bearbond Securities and Alliance SE, or telling customers to reduce their shares.
The move also raises concerns that the United States is urging the International Monetary Fund to carefully consider the much-needed debt to El Salvador, which could lead to fluctuations in public funds.
One of the most popular leaders in the Buchale region, according to opinion polls, he has a rating of more than 85%. He follows a strong social media and lists an unusual path in politics. He worked at his father’s marketing company before becoming mayor of San Salvador and its suburbs. Promising to reduce corruption and widespread gang fuel crimes, he ran for president in 2018, becoming the first president in nearly 30 years to win without the support of a major party.
Jack Mallers, founder and CEO of Strike Platform, presented a video of Buckle during a meeting on Saturday. He said the El Salvador government had asked him to help develop a plan for the use of bitcoin, according to the Twitter account of the 2021 conference on bitcoin.
Previously: Dorsey’s prime example, Bitcoin Winglews in 2021: TOPLive
(Buckell will be updated all the time with comments).
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