El Salvador Head of state Nayib Bukele revealed at the Bitcoin 2021 Seminar in Miami that the nation is in the process of embracing Bitcoin as lawful tender.
Bukele Tweeted that "If 1% of [Bitcoin] is purchased El Salvador, that would certainly raise our GDP by 25%.
On the other side, #Bitcoin will have 10 million prospective brand-new users as well as the fastest expanding means to transfer 6 billion bucks a year in remittances."
Frank Holmes, Chief Executive Officer of UNITED STATE Global Investors and executive chairman of HIVE Blockchain Technologies, claimed that the main problem would certainly be the illicit activities being financed by Bitcoin under such a program.
" I assume conceptually, if you're an optimist, it appears great. The concerns we constantly have risks with, is a leader such as this in El Salvador, is that it's going to end up being a domicile for wicked activity," Holmes told David Lin, support for Kitco news.
0:00 – Miami Bitcoin meeting
1:04 – "Bitcoin is a scam" – Donald Trump
2:55 – El Salvador legalizing Bitcoin
6:14 – G7 is a "cartel" – tax obligation walkings for companies
9:52 – Green energy crypto coins
13:45 – Bitcoin, Ethereum cost volatility
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