Tech mogul Elon Musk publicly endorsed El Salvador President Nayib Bukele’s speech at the UN General Assembly, where Bukele defended his administration against accusations of suppressing political opposition and restricting freedom of speech. This isn’t the first time Musk has shown support for Bukele, who has faced criticism for his handling of dissent and his controversial Bitcoin policies.
Bhutan, a small Himalayan nation, has quietly accumulated a significant amount of Bitcoin, surpassing El Salvador in holdings and making it the fourth-largest government holder of the cryptocurrency. This move comes as discussions on holding Bitcoin in national reserves intensify globally.
El Salvador’s President Nayib Bukele visited Tesla’s Gigafactory in Texas and discussed the future of technology with Elon Musk. The meeting sparked speculation about potential collaborations and furthered the conversation about the role of AI and robotics in shaping the future.
Bitcoin enthusiast Max Keiser has publicly criticized MicroStrategy co-founder Michael Saylor for his negative comments regarding El Salvador’s Bitcoin strategy. Keiser, who serves as a senior Bitcoin advisor to El Salvador’s President Nayib Bukele, defended the country’s approach, claiming it is reducing debt and growing GDP while buying more Bitcoin. He argued that Saylor’s criticism was unfounded and demanded an apology from the Bitcoin billionaire.
El Salvador’s President Nayib Bukele acknowledges that Bitcoin adoption has been slower than anticipated but maintains optimism about the long-term benefits of the experiment. He highlights the positive impact on branding, investment, and tourism, while acknowledging the challenges in achieving widespread acceptance.
Balaji Srinivasan, a prominent Silicon Valley investor, has echoed El Salvador President Nayib Bukele’s claim that the U.S. government’s finances are not based on taxation but rather on the Federal Reserve’s money printing. This statement comes amid a controversial debate on taxation policies in the U.S.
El Salvador is set to integrate Bitcoin further into its governance by providing Bitcoin education and certification to 80,000 public servants. This initiative comes as part of the country’s ongoing efforts to build a Bitcoin-based economy, including the establishment of a Bitcoin bank and the ‘Bitcoin City’ project.
El Salvador is set to receive a record-breaking $1.6 billion private investment from Turkish company Yilport Holding, aimed at accelerating the development of its ambitious ‘Bitcoin City’ project. The funds will be channeled into two of El Salvador’s seaports, making it the largest private investment in the Central American nation’s history.
El Salvador has made significant strides in boosting tourism by introducing visa-free entry for citizens of 86 countries, including popular destinations like Australia, India, France, and Malta. This move aims to attract more international travelers and contribute to the country’s economic growth. Travelers are advised to ensure their passport validity and may need to obtain travel insurance.
