El Salvador as a nation became a sort of Bitcoin “maximalist” through its President a while ago. You probably remember that not too long ago, it’s been revealed that the nation is doubling down on its bet on cryptos even in the midst of a bear market.
The first country to declare Bitcoin as legal tender is now working on a Digital Asset Issuance Law. It’s important to note the fact that this would facilitate operations with any crypto asset.
According to a document available on the official website of the National Assembly of El Salvador, the law would regulate the transfer operations of any digital asset. It’s also important to note the fact that this is seeking to “promote the efficient development of the digital asset market and protect the interests of acquirers.”
On Twitter, Bukele recently made the announcement that his country will begin purchasing one BTC every day.
“We are buying one Bitcoin every day starting tomorrow.”
Now, it’s been revealed that Bitcoin will probably make the nation one of the richest on the planet.
Bitcoin to make El Salvador one of the richest nations worldwide
Venture capitalist Tim Draper said that Bitcoin (BTC) would likely transform El Salvador from one of the poorest countries in the world to one of the richest.
In a new interview with popular crypto bull Anthony Pompliano, the billionaire said the following:
“There’s only one or two countries in the world who have started to do that. They are going to go from the poorest to probably some of the wealthiest countries in the world over the next 40 years because they’ve done it. El Salvador and Central African Republic.”
He continued and explained:
“And then Malta, of course, is going to benefit big. Switzerland is benefiting big because they’re making Bitcoin a part of their economy.”