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Key facts:
- People from other countries want to replicate El Salvador’s experience, Keiser says.
- The adoption of bitcoin has been fundamental in this transformation.
Bitcoiners and investors Max Keizer and his wife Stacy Herbert believe that the bullish cycle of bitcoin (BTC) will attract many people to El Salvador. They stated this during their participation in the Adopting Bitcoin conference that took place in the Central American nation.
Both Keizer and Herbert commented that while a bitcoin rally will attract more people, other elements such as adoption and education are essential to achieve it. “As more businesses and companies start accepting bitcoin, it will start to attract more people from all over the world,” Keiser said.
Bitcoin has been recording outstanding performance in 2023 and the bullish cycle for some is beginning. In fact, today, November 9, it experienced a rise that took it to USD 38,000, its maximum since May 2022, as reported by the Market Times.
Herbert commented that El Salvador has a “very solid foundation”, and he also believes that the market has been very good for the country. “We bitcoiners don’t worry about sterile markets, we are building and those who had junk coins left because they had nothing to take advantage of here,” he highlighted.
Makeover of El Salvador
Regarding the change of image of the Central American nation, Herbert said that it has been the largest in Salvadoran history. “Four or five years ago, San Salvador was the homicide capital of the world, and now it is the place where everyone wants to be,” he added.
The bitcoin claims that the market has become “extraordinary” for El Salvador and there are better returns. With “smart money (bitcoin), we can have people come to develop tourism infrastructure and other similar industries.”
He highlighted that migration numbers are changing, “there are people who want to come.” El Salvador stood out for several years for the high numbers of people who left the country due to poverty and violence. Once this situation is turned around, “we are going to see great things,” Keizer said.
The transformation mentioned by the couple of bitcoiners, who obtained Salvadoran citizenship in 2022, indicates that El Salvador is going through a “2.0 renaissance” and it needs the best people, companies, artists and thinkers.
«We are building a country where life, liberty and property are protected. “GDP is going to double in the next 5-6 years and the nation will be debt-free by 2030. The country can become the next Singapore or Silicon Valley,” Keiser added.
The reference to Singapore or Silicon Valley by Max Keiser is particularly significant. Singapore is known to be one of the world’s leading financial and technology centers, with a highly business-friendly environment, an open and dynamic economy, and strong intellectual property protection. On the other hand, Silicon Valley in California is famous for being the global epicenter of technological innovation and home to many of the largest and most successful technology companies.
The Salvadoran example, according to the bitcoiner, wants to be replicated in other cities and countries. “A few days ago we received a delegation from Santa Monica, California and they asked us for help to be more like us,” he said.