Who would have thought that a tiny Central American country would lead the way to a disruptive new monetary system?
Apparently, Nayib Bukele did.
Bukele is the 40-year old president of El Salvador, and he’s the force behind El Salvador’s groundbreaking adoption of bitcoin, the granddaddy of cryptocurrencies, as its legal tender (alongside the US dollar).
As an early adopter, El Salvador wants to attract the world's attention and boost foreign investments in the country.
And those efforts could benefit you…
Look around what is happening in the world. Authoritarian chaos.
Canada is freezing protesters' bank accounts… In Russia and in Ukraine, citizens of both countries could endure some painful financial problems…and sanctions.
Now, let’s imagine if protesters in Canada and citizens in Russia and Ukraine all had bitcoin. They would still have the opportunity to trade worldwide. Their duress might be short-lived.
Cryptocurrency can play an important role in a solid Plan B…and a country that adopts bitcoin as its currency could therefore eventually become a solid Plan B option.
El Salvador is “sticking it to the Man”, in this case - the International Monetary Fund and other global financial cops, resisting the pressure to dismiss crypto and persisting with bitcoin adoption.
But what is in it for you?
If you are a Bitcoiner, then being in a country whose politics fully supports you could be a massive benefit to your vision of the world.
Yes, El Salvador has its problems, and we don’t overlook them in today’s piece.
But it also dangles some enticing carrots Bitcoiners’ way: Residency By Investment, paid with bitcoin, can speed up the process of becoming an El Salvadoran citizen.
Then there is the “Volcano bond” issued on the bitcoin blockchain. We’ll explain what that is and why it might be worth investigating.
The cherry on top is the development of Bitcoin City… a brand-new city to fall fully under the bitcoin standard. If successful, this could be a game-changing prototype both politically and economically.
Even if you’re not a heavy crypto investor, it’s worth educating yourself about something that could be fundamentally transformative in the world of blockchain.
Learn more about all of the above in our new Alert. We analyze El Salvador, its adoption of bitcoin and consider how you can benefit from the developments.
“Somebody sounds nervous.”Edward Snowden, January 25, 2022 Entrenched institutions don’t like viable challenges to their power. When they don’t feel threatened, they ignore or smugly malign the lightweights. But when a real contender rises up, one they can’t dismiss, they get nervous. And hamfisted. Observe various governments’ reactions to the (thus far quite peaceful) trucker…
