Nish

I have travelled 90+ countries. Met with dozens of Presidents. But @nayibbukele, the President of El Salvador is my favourite! I'm super bullish on the leadership of Nayib and El Salvador's growth. This is the only tweet you need to read about El Salvador: 🧵 ( Must Like and Repost ) Under President Nayib Bukele's visionary leadership, it became the first-ever country to make Bitcoin an official currency in 2021. At first, there were lots of doubters and naysayers questioning this crazy crypto move. But El Salvador hasn't backed down one bit. As of March 12th, the country has accumulated 2,681 $BTC worth over $206 million. With an impressive unrealized profit of $84 million, the investment is paying off! 📈💰 So why did this tiny nation take such a huge leap into the world of digital money? A few key reasons: ⚡ Get more folks access to banking/money services who can't use traditional banks ⚡ Attract newfound foreign investment & business to boost the economy ⚡ Make it cheaper for workers to send money back home to family ⚡ Not be so reliant on the U.S. dollar running everything Here are some cool facts about how El Salvador has been embracing Bitcoin so far: 🔹 They created the "Chivo Wallet" app for using Bitcoin easily. New signups even get $30 in free Bitcoin! 🔹 Plans to build an entire "Bitcoin City" funded by $1 billion in Bitcoin bonds to attract crypto companies 🔹 Offering permanent residency to anyone investing over $100k in Bitcoin/crypto Now the whole country hasn't gone totally crypto crazy just yet. Only around 1.72% of Salvadorans use Bitcoin regularly. That's lower than in some places like China where crypto is illegal but 4% use it. But the government has a plan to change that with incentives like: 📌 No taxes on Bitcoin investor profits 📌 Letting people pay all taxes/fees in Bitcoin 📌 State-backing for Bitcoin mining operations And so far the economic upsides have been promising: ✅ $84 million Bitcoin investment profit ✅ Major crypto companies/investments coming in ✅ Signaling El Salvador is innovative to Wall Street ✅ Reduced dependence on the U.S. dollar could save costs President Nayib has truly groundbreaking and ambitious visions for Bitcoin that could reshape El Salvador's future: - He aims to build an entire modern financial system with Bitcoin as the core digital currency. This bold mandate aims to bank the unbanked, facilitate affordable money transfers, and promote widespread economic participation. - He also wants to leverage cryptocurrencies to drive job creation, entrepreneurship, and sustainable economic growth. The government plans to attract pioneering crypto and blockchain companies, creating an ecosystem ripe for innovation. - And also, to implement a patient long-term strategy to overcome Bitcoin's price volatility challenges. Bukele's unwavering determination demonstrates his steadfast belief that crypto is the future of global finance. His re-election victory in Feb 2024 with over 60% of the vote was a resounding endorsement of his progressive crypto agenda. The people of El Salvador have embraced his fearless vision of positioning the nation as the world's first truly decentralized digital economy. Bukele's determination to put El Salvador on the map as the pioneer of nationwide crypto adoption is an experiment the whole world is watching closely. I'm super bullish on El Salvador and Nayib! No stopping, only moon from here🔥