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News

El Salvador President Attracts New Residents With Poster Contains Bitcoin

March 28, 2023 - Around 2 mins mins to read

Key Points:

  • El Salvador President Nayib Bukele is inviting new citizens to live in the country with a special poster related to Bitcoin.
  • The poster depicts the use of Bitcoin as legal cash, with El Salvador becoming the first nation in the world to provide this option to visitors and inhabitants.
El Salvador President Nayib Bukele is promoting the country as the “new land of the free” as part of an open invitation to foreigners to relocate to the Latin American country.
El Salvador President Attracts New Residents With Poster Contains Bitcoin

Bukele tweeted a classic American-style billboard with many benefits that the nation provides its citizens, including the use of Bitcoin as legal cash.

The advertisement encourages people to relocate to El Salvador, claiming that there is “no fentanyl crisis,” “no shootings,” and “no lootings” as a result of the government’s rigorous security measures in 2022 and 2023.

The billboard also aims to highlight his government’s accomplishments, particularly in the fields of security and monetary policy.

The banner specifically mentions the adoption of Bitcoin as a legal currency method in El Salvador, which is the first nation in the world to provide the option to visitors and residents. Both the government and President Bukele are taking steps to encourage the use of the most valuable digital currency on the market right now.

Bukele said last week that he would suggest to El Salvador’s Congress that all taxes on software and hardware technological advances be eliminated. While it is unknown if this regulation will apply to Bitcoin applications, El Salvador and its president are known to be Bitcoin-friendly.

El Salvador President Attracts New Residents With Poster Contains Bitcoin

Moreover, President Bukele has spoken of making it easier for candidates to get Salvadoran citizenship via Bitcoin investments.

He also argues that since Bitcoin became legal money over nine months ago, it has increased tourists by 95%.

Nonetheless, Bitcoin acceptance in El Salvador has been uncontroversial. The World Bank, for example, recently rejected the country’s request for assistance in its transition to Bitcoin, citing worries about the environmental effect of BTC mining.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

crypto

El Salvador

Nayib Bukele

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

El Salvador President Attracts New Residents With Poster Contains Bitcoin

Key Points:

  • El Salvador President Nayib Bukele is inviting new citizens to live in the country with a special poster related to Bitcoin.
  • The poster depicts the use of Bitcoin as legal cash, with El Salvador becoming the first nation in the world to provide this option to visitors and inhabitants.
El Salvador President Nayib Bukele is promoting the country as the “new land of the free” as part of an open invitation to foreigners to relocate to the Latin American country.
El Salvador President Attracts New Residents With Poster Contains Bitcoin

Bukele tweeted a classic American-style billboard with many benefits that the nation provides its citizens, including the use of Bitcoin as legal cash.

The advertisement encourages people to relocate to El Salvador, claiming that there is “no fentanyl crisis,” “no shootings,” and “no lootings” as a result of the government’s rigorous security measures in 2022 and 2023.

The billboard also aims to highlight his government’s accomplishments, particularly in the fields of security and monetary policy.

The banner specifically mentions the adoption of Bitcoin as a legal currency method in El Salvador, which is the first nation in the world to provide the option to visitors and residents. Both the government and President Bukele are taking steps to encourage the use of the most valuable digital currency on the market right now.

Bukele said last week that he would suggest to El Salvador’s Congress that all taxes on software and hardware technological advances be eliminated. While it is unknown if this regulation will apply to Bitcoin applications, El Salvador and its president are known to be Bitcoin-friendly.

El Salvador President Attracts New Residents With Poster Contains Bitcoin

Moreover, President Bukele has spoken of making it easier for candidates to get Salvadoran citizenship via Bitcoin investments.

He also argues that since Bitcoin became legal money over nine months ago, it has increased tourists by 95%.

Nonetheless, Bitcoin acceptance in El Salvador has been uncontroversial. The World Bank, for example, recently rejected the country’s request for assistance in its transition to Bitcoin, citing worries about the environmental effect of BTC mining.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

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