El Salvador’s Bukele and Qatar’s Amir Charting Bitcoin’s Path Forward?

Qatar’s Amir Visits El Salvador: Strengthening Ties and Potential Crypto Collaborations

The Amir of Qatar, HH Sheikh Tamim bin Hamad Al Thani, recently visited El Salvador at the invitation of El Salvador’s President, Nayib Bukele. Their discussions shed light on their nations’ growing relations and sparked curiosity about new cryptocurrency ventures.

Fahad bin Salem Al Marri, the Charge d’Affaires of the Embassy of Qatar to El Salvador, spoke to Qatar News Agency (QNA) about this visit. He revealed that during the Amir’s stay, they would sign five agreements and Memoranda of Understanding (MoUs). These MoUs cover sectors like agriculture, livestock, military, health, and legal and Public Prosecution. The goal? To boost collaborative efforts on matters that benefit both nations.

El Salvador, on September 7 of 2021, proudly became the first country to recognize Bitcoin as legal tender. Furthering this commitment, they teamed up with Volcano Energy Group. Their objective? To establish one of the world’s premier Bitcoin mining farms. On the flip side, Qatar has approached cryptocurrencies with more caution. Its central bank has often advised against Bitcoin, citing its unpredictable nature and potential link to financial malpractices.

But with the Amir’s recent visit, the crypto world is abuzz. Might there be joint crypto mining projects on the horizon?

Furthermore, Al Marri shared a glimpse into the diplomatic ties between Qatar and El Salvador. Established on September 24, 2003, these relations have been growing ever since. The two countries have previously signed 14 agreements and MoUs in diverse sectors. These range from education and research to tourism, culture, and even central bank operations.