Topic: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻 - page 29. (Read 38902 times)

I am very impressed by the way El Salvador’s president Nayib Bukele is making the adoption of bitcoin possible by all means. His recent residency visa and citizenship by investment initiative will actually help to increase the number of bitcoin holders in the country and those willing to use this offer to become a citizen of the country or looking for a residency visa. He is very clear in his objectives about bitcoin, that is why he continues to thrive amidst the challenges faced by the adoption he decided for the country.

The percentage of bitcoin holders in the country is actually poor but with this new initiatives that he is bringing up, we will soon witness more people owning bitcoin in the country. If the citizens are not willing to hold bitcoin, he has already pathway for foreigners to come and embrace bitcoin in the country and make use of it as they wish since the country is a bitcoin friendly nation. Those foreigners buying this idea will enjoy a bitcoin free environment and also have access and enjoy benefits of a normal citizen in the country.

There's one thing that i liked about this article, they are being sincere by mentioning crypto and not bitcoin specifically, we all know that when considering the entire cryptocurrencies in general, this could also as well constitute the shitcoins, but what we are after here is after what landmark improvement bitcoin has contributed to El-Savador in the past, present and the future to come as well.

So when we are to make any analysis about El-Savador's adoption and record breaking success, it had to be base on bitcoin and not other cryptocurrencies included because bitcoin is the only reason why they have gone this far, with it's recent launch of citizenship and residency permission through bitcoin holdings or Investment, this will also help in attracting more Investors coming to join in making a business hub in El-Savador altogether for prosterity.

Less than 2% of El Salvador's population holds crypto.

Crypto enthusiasm in El Salvador lags despite the country's ongoing pro-crypto initiatives.
Despite the continued efforts of the government of El Salvador to promote widespread cryptocurrency adoption within El Salvador, a recent report highlights the limited number of crypto owners in the country.
About 109,175 of El Salvador's population own bitcoins, which is 6.36 million. This represents approximately 1.72%. El Salvador ranks 55th in the Global Crypto Adoption Index.
The government of El Salvador is stepping up its efforts to increase crypto investment within the country.

It was reported that the country had launched a new citizenship-by-investment initiative, offering a residency visa and a path to citizenship to those willing to invest $1 million in Bitcoin or Tether within the country.

ADOPTING EL SALVADOR
Experience Freedom, Security and a Bitcoin lifestyle by adopting El Salvador as your home

VISIONARY
FREEDOM PROGRAM
El Salvador extends an exclusive invitation of residency to 1000 individuals who aspire to make a difference in the world. Successful applicants are eligible for a fast-track Salvadoran passport, becoming an integral part of this transformative journey. El Salvador is experiencing a renaissance driven by bold leadership, economic liberty, and a commitment to financial freedom. We are actively seeking the brightest minds globally to join us in building this vision of a better tomorrow. Limited to 1000 participants per year, this Freedom Visa program is not just an investment; it's a commitment to building the country of the future.

Build a Better Future
Your investment in El Salvador's cultural and economic renaissance program directly fuels the country's growth. Every bitcoin is reinvested into vital areas like education, healthcare, and infrastructure. Your contribution will help build a better future for all.

Volcanic Empowerment
Leveraging natural thermal energy, El Salvador powers both domestic electricity production and Bitcoin mining, symbolizing the union of sustainability and technological progress.

A Rising Global Hub
In a world of uncertainty, El Salvador stands as a beacon of opportunity. Join us on an exhilarating journey toward becoming a global epicenter for Bitcoin, technology, and personal freedom.

Source link: https://adoptingelsalvador.gob.sv/welcome?s=09

Maybe it's time we first get the clear picture of what they were referring to as residency and citizenship, we know that some words can be used in a particular context to carry the same or different meaning from what it has always been known for, 3 bitcoin to become a resident is not thesame as having the country's citizenship when you have invested about 1 million dollars in bitcoin, residency is a permit that allows the non indigenous people living have almost thesame right of living together and having thesame benefits but it exempted them from being a citizens.

The terms of citizenship and visa seem more onerous than their previous announcements of 3 bitcoins to be come a resident... but the earlier announcement was in 2021.. so times have changed, and maybe what they are offering is different.. I am not sure if anyone actually was able to take advantage of some of the earlier programs that might have been residency rather than citizenship.

Yes, it can undoubtedly be called a landmark move by the President of Salvador because investors whose investment amounts to one million dollars or more will be granted El Salvador citizenship. But there may be more ulterior motives, but those investors who have invested in Bitcoin in disguise will now start coming out to the public. Maybe there are no investors in my country who have more than a million dollars invested on Bitcoin alone. Again it could be a trick of the President of Salvador as it could also be a revolutionary trick to get the world's richest investor to own only his country's wealth.

El Salvador launched a Freedom Visa and Citizenship program
El Salvador created history in September 2021 after becoming the first nation to recognize bitcoin as legal tender. It has since made bitcoin investments and holds over 2,700 BTC in its treasury – a position that has yielded over $3 million in unrealized profit so far.

The program's application process is streamlined to encourage visionary contributions to El Salvador's economic development, cultural enrichment, and societal upliftment. The process requires a non-refundable $999 USD deposit in Bitcoin or USDt, and all accepted applicants must pass KYC. Upon acceptance, the deposit will be credited toward the $1 million in Bitcoin or USDt investment required to secure the Freedom Visa and then citizenship.

This investment enables participants to secure the Freedom Visa and actively contribute to the nation's growth. Families also have the opportunity to apply collectively, allowing eligible family members, such as spouses, children, and dependent relatives, to join in shaping El Salvador's future."

The government of El Salvador has launched a program to obtain citizenship of this country for those investors who invest more than $1 million in the country's economy in BTC or USDT.  This right is granted to 1,000 people wishing to invest their cryptocurrency savings in El Salvador per year.
  In my opinion, this is a very good offer for those cryptocurrency owners who have the opportunity to invest their cryptocurrency.  And this is a good continuation of all other initiatives of Nayib Bukele and his government in promoting Bitcoin as legal tender.

Local Salvadoran newspapers La Prensa Grafica and  El Mundo also wrote a short article about this.

The law, known as the "Bitcoin Law," was passed by the Salvadoran Legislative Assembly in June 2021.

And so far President Bukele has also proven what he wrote to all his citizens and has also answered all criticism from media crews. Because currently El Salvador has won a lot from the increase in Bitcoin prices that occurred during the last three months of this year and will still have the potential to gain even more profits this year from this increase in prices.

Now all citizens of El Salvador and the media are also aware that the steps taken by President Bukele are quite the right steps because so far El Salvador has also experienced many benefits through Bitcoin investment and has also succeeded in impressing its own citizens with Bitcoin so that there are many Its citizens continue to realize that Bitcoin is an excellent digital asset for investment, which makes them advise the next generation to study Bitcoin as they have learned it now.

Are El Salvador's BTCBitcoin Bets Paying Off?

Over the last few days, the price of Bitcoin has grown quite a bit and has reached $44,000.El Salvador's president celebrates after a bitcoin reserve bought with public money turns black amid bitcoin's continued surge.
Since 2021, Naib Buckel has spent more than $120m of his country's El Salvador money to buy bitcoins.

In June, a BBC documentary on bitcoin adoption in El Salvador found that much of the population was using the digital currency less than Mr Buckel and other bitcoin enthusiasts believed, despite huge investments.
Details here

Nayib Bukele wants to assure all parties who doubt the concept of investment made by him cannot be justified unilaterally and the doubts of those who assess El Salvador's Bitcoin investment decision have been refuted when Bitcoin experienced a price spike.

Nayib Bukele does not evaluate Bitcoin from the perspective of the profits that will be obtained so he firmly said that he has no intention of selling even though the profits that will be obtained by El Salvador are $3,620,277.13 USD at that time.
Nayib Bukele sees Bitcoin as a great direction for the future of the economy because of the value it has.

If at that time the profit obtained was $3,620,277.13 USD if Bukule sold, how much profit would there be if Bitcoin traded at $70,000 USD?
He's smart about this.

Nayib Bukele had to take on a big challenge to legalize Bitcoin in his country. Nayib Bukele's supporters could have gone the other way if this decision had not gone in his favour. He took such a decision only thinking of improving the economic condition of the country at the risk of losing his power and this time he proved his decision right. He has managed to change the landscape of the country in a short span of time after accepting Bitcoin as a legal document in his country. All the work he is doing is undoubtedly commendable and is playing a great role in the economic development of the country. A few days ago I heard that he will add Bitcoin to the textbooks, that is, so that children can grow up learning about Bitcoin.

So, regarding President Bukele's decision to focus on Bitcoin Previously, it had received a lot of criticism both from its fellow citizens and from media crews at that time and that was normal. that's why he continues to be committed to what he writes and he is also very confident that this strategy is an investment in line with global trends that are developing later.

Yes. it's proven now and it can be seen now, I don't think he needs that and wisely it's not necessary in my opinion, it's just that they don't understand/get used to what the purpose is with the digital asset landscape which continues to develop to this day.

We all know that Salvador is the first country to use Bitcoin as legal tender.Their country's president, Nayib Bukele, has contributed the most to becoming a bitcoin-using country as a tender for this law.
I saw this thread discussing the history of Bitcoin in El Salvador and maybe that's why this thread was opened.

Today I was browsing Nayib Bukele X profile and saw this post there.

Thank God Now there are 4 of us but I found this little memory when we were still 2
Happy anniversary my love



picture source

El Salvador has always been aware of Bitcoin. Currently, El Salvador is the most advanced Bitcoin topic. Because they are serving the people of El Salvador from their volcano, this entire achievement has been achieved since Bitcoin was legalized. When Bitcoin is legalized in El Salvador, just like the sunlight, the shadow of Bitcoin enters like a bright light and the country of El Salvador is known to be well-known in the world. This entire achievement and pioneer is Nayib Bukele, who holds a lot of bitcoins to help his country economically in the future. Because only Bitcoin can save El Salvador from the economic storm.

I like your love and zeal for the success of Bitcoin in El Salvador and Bukele but a democratically elected government is accountable to the people and should listen to their yearnings. In the case of Bukele investing in Bitcoin, he received the support of the lawmakers and the legislature represented the people. Which means he received the support of the people before he invested in the Bitcoinspace. The protest and opposition that was widely publicized were sponsored by some anti-bitcoin forces that wanted to frustrate the uncommon decision by the president because the move will not benefit them..

We live in a world where pride and arrogance have filled the hearts of people. In an ideal world, Bukele deserves an apology from people who sponsored and started a media war against him. They should acknowledge that they were wrong and tender an unreserved apology. But who cares if they don't, the young president is focused on staking more Bitcoin and plans to hodl it for a longer period.

What is your point to show a tweet from July 2022 - without highlighting that it was a tweet from July 2022?

Yeah, the tweet ended up being wrong - even the opposite played out.. but at the same time, your posting that subject without context is misleading.

As a leader, it's not a must that you should always follow the people's directives because sometimes they may be misleading as well, being a leader, you're saddled with the responsibility of taking an effective decision on the country's best of interest because you're being seen as someone who is best fit in leading the people and in taking a frontline decision that others will benefit from, this are the kind of traits El-Savador's president, Nayib Bukele is very good at.

Even if the people among others that have insulted him in the past are unwilling to make an apology, doing such or not doing so does not make him loose what he has acquired as being a leader, we should expect critics from everywhere being in a leadership position, those are the pillars that makes one strong and determined for pursuing after excellence, because they are just for a short time compared to where we are going with the task ahead.