{"id":24248,"date":"2023-10-29T07:30:32","date_gmt":"2023-10-29T07:30:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/how-el-salvador-is-becoming-the-singapore-of-the-americas-with-bitcoin\/"},"modified":"2023-10-29T07:30:32","modified_gmt":"2023-10-29T07:30:32","slug":"how-el-salvador-is-becoming-the-singapore-of-the-americas-with-bitcoin","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/how-el-salvador-is-becoming-the-singapore-of-the-americas-with-bitcoin\/","title":{"rendered":"How El Salvador is Becoming the Singapore of the Americas with Bitcoin"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>El Salvador is on the path to becoming a financial hub in the Americas, thanks to its adoption of <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a> and other pro-growth policies. The Central American country has been attracting attention from investors, entrepreneurs and Bitcoin enthusiasts who see it as a land of opportunity.<\/p>\n<p>One of them is Gabor Gurbacs, strategy advisor of investment management firm VanEck. He believes that El Salvador can emulate Singapore\u2019s success story and become a major economic player in the region. He wrote in an X post on Oct. 28:<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>177% up to 5BTC + 77 <strong> Free Spins<\/strong>!<\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><em>\u201cI say often to portfolio managers and asset allocators that El Salvador has the potential to become the Singapore of the Americas.\u201d<\/em><\/p>\n<p>Singapore transformed itself from a poor fishing village to a wealthy global city-state in the second half of the 20th century. It did so by opening up its economy, attracting foreign capital and talent, and fostering innovation and entrepreneurship.<\/p>\n<p>Gurbacs expects El Salvador to follow a similar trajectory, driven by new capital investment and immigration. He was responding to an Oct. 28 post by <a href=\"https:\/\/igaming.org\/crypto\/michael-saylor-and-max-kaiser-defend-bitcoins-carbon-footprint-908\/\">Max Keiser<\/a>, a U.S. broadcaster and Bitcoiner who now lives in El Salvador. Keiser urged people to move to El Salvador, calling it \u201cThe New Land of the Free.\u201d<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>177% up to 5BTC + 77 <strong> Free Spins<\/strong>!<\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Keiser listed some of the reasons why El Salvador is appealing, such as:<\/p>\n<ul>\n<li>Bitcoin and the U.S. dollar are both legal tender<\/li>\n<li>Crime rates have dropped significantly<\/li>\n<li>The country has beautiful beaches and delicious coffee<\/li>\n<\/ul>\n<p>El Salvador\u2019s economic prospects improved when Nayib Bukele became president in June 2019. He has implemented several bold initiatives to boost growth and development, such as:<\/p>\n<ul>\n<li>Making Bitcoin <a href=\"https:\/\/igaming.org\/crypto\/september-7-bitcoinday-in-el-salvador\/\">legal tender<\/a> in September 2021 and launching a Bitcoin custodial wallet, Chivo Wallet, for all citizens<\/li>\n<li>Starting a Bitcoin mining operation, <a href=\"https:\/\/igaming.org\/crypto\/volcano-energy-secures-1-billion-for-revolutionary-bitcoin-mining-project-in-el-salvador\/\">Volcano Energy<\/a>, powered by geothermal energy from volcanoes<\/li>\n<li><a href=\"https:\/\/igaming.org\/crypto\/el-salvadors-trailblazing-bitcoin-law-gets-expert-support-from-economist-saifedean-ammous\/\">Hiring Dr. Saifedean Ammous<\/a>, the author of \u201cThe Bitcoin Standard\u201d, as an economic advisor to the National Bitcoin Office<\/li>\n<li>Eliminating all taxes on technology innovations to attract more entrepreneurs and foreign capital<\/li>\n<\/ul>\n<p>Furthermore, El Salvador\u2019s sovereign bonds have outperformed many other emerging markets this year, returning 70% by August. The country has also caught the eye of JPMorgan and other large investment banks. A year ago it was reported that the country\u2019s Bitcoin adoption had paid off in getting its <a href=\"https:\/\/igaming.org\/crypto\/bitcoin-and-surf-boosting-el-salvadors-tourism\/\">tourism back on track<\/a> also.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of up to $2,500<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Lastly the country plans to accumulate Bitcoin as a strategy to pay off its debt within the next five years. Bukele hopes that Bitcoin will help his country achieve financial inclusion, stability and prosperity. Bukele has made a good name for himself in the last years of regularly <a href=\"https:\/\/igaming.org\/crypto\/masters-of-the-dip-el-salvador-buys-80-bitcoin-at-19000-per-coin\/\">buying the dip<\/a>.<\/p>\n<p>In December of 2022, venture entrepreneur Tim Draper, already <a href=\"https:\/\/igaming.org\/crypto\/el-salvadors-bet-will-pay-off-2-key-drivers-to-new-bitcoin-rally\/\">predicted<\/a> that the move to make Bitcoin legal tender in the country would pay off for El Salvador in the long run.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/how-el-salvador-is-becoming-the-singapore-of-the-americas-with-bitcoin\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) El Salvador is on the path to becoming a financial hub in the Americas, thanks to its adoption of Bitcoin and other pro-growth policies. The Central American country has been attracting attention from investors, entrepreneurs and Bitcoin enthusiasts who see it as a land of opportunity. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24248"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24248"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24248\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24249"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}