El Salvador Set To Host 44 Nations To Discuss Bitcoin And Its Future Prospects 18

El Salvador Set To Host 44 Nations To Discuss Bitcoin And Its Future Prospects

  • El Salvador’s president Nayib Bukele has announced that 44 nations are coming together in El Salvador to discuss Bitcoin. 
  • Apart from discussing Bitcoin, significant emphasis will be laid on topics such as financial inclusion, banking the unbanked, digital payments, and El Salvador’s bitcoin rollout and its benefits. 

President of El Salvador Nayib Bukele has tweeted a new update, announcing that 32 central banks and 12 financial institutions are conducting a meeting in El Salvador to discuss Bitcoin and its several use cases in detail. 

Nayib Bukele To Host 44 Nations In El Salvador

On Sunday, May 16, El Salvador’s president Nayib Bukele took to Twitter to announce a new update stating that the Central American country is all set to host 44 nations. These nations are coming together to discuss Bitcoin’s prospects in detail as well as talk about other economic avenues including financial inclusion, digital economy, banking for the unbanked, and El Salvador’s Bitcoin rollout and its benefits in the country. 

In a comprehensive Twitter thread, Bukele announced the list of institutions and countries that will be joining him in El Salvador on May 16. 

In September 2021, El Salvador took a historic decision, by becoming the first country in the world to legalize Bitcoin and the use of cryptocurrency in its region. Since then, the country has been making steady headlines by purchasing Bitcoin and keeping the country’s Bitcoin reserves alleviated. Since September 2021, the country has purchased a total of 2301 Bitcoins amounting to roughly $30,000 million.

Bukele’s announcement concerning the 44 nations BTC conference comes shortly after a Twitter account by the name of Bitcoin Beach reported that “several countries are flying to El Salvador.” 

What Is The Gathering All About?

Bukele has not yet specified whether the gathering that will be attended by 44 nations in El Salvador will exclusively discuss Bitcoin or will there be other elements involved. However, Bukele has confirmed that the discussions will primarily span important economic aspects such as financial inclusion, digital payments, banking the unbanked, and El Salvador’s Bitcoin rollout and its benefits in the country. It is speculated that many of these countries are gathering to examine the Bitcoin infrastructural capacity and design in El Salvador and how it can be implemented in their respective regions. However, it is still mere speculation and no official announcement has been made as of yet.