Bitcoin
President Bukele proposes Bitcoin bank for El Salvador two weeks after starting second term – DL News
- Proposal released on social media by the US ambassador and Bitcoin consultant.
- Salvadoran President Nayib Bukele took office for his second term two weeks ago.
El Salvador President Nayib Bukele is proposing the creation of a private investment bank that, if approved, would offer Bitcoin investors broader financial services than conventional banks.
“As part of our economic plan for El Salvador, we propose a BPI, Private Investment Bank, where we can diversify the financing options offered to potential investors in dollars and Bitcoin,” said Salvadoran Ambassador to the US, Milena Mayorga. he wrote in a post on X.
Senior Bitcoin Advisor to Bukele Max Keiser posted his opinion, saying: “President Bukele begins work on his new term with new legislation establishing a Bitcoin Bank.”
The proposal came just two weeks after Bukele took office to another five-year presidential term after a landslide electoral victory. Cointelegraph was the first to report this story.
Still, Bukele’s adoption of Bitcoin has been a bumpy ride since El Salvador became the first country to have legal tender in 2021.
Its growing popularity stems mainly from the crackdown on the country’s infamous criminal factions, Mara Salvatrucha 13 and Barrio 18, which have kept the nation under their control for decades. DL News he has reported.
Once nicknamed “homicide capital of the world”, El Salvador now has a homicide rate equivalent to Canada, according to recent data government data.