For Max Keiser, the positive effects of the adoption of BTC in El Salvador have been noted with a growth in the Gross Domestic Product (GDP).
Investor and maximalist Max Keiser attributed El Salvador’s economic recovery to the adoption of Bitcoin (BTC) as legal tender in 2021. He also noted that he had “high hopes” that the country could rise to the “challenge” that involves using cryptocurrency.
On the Nomad Capitalist YouTube podcast, the maximalist made the following point:
“Even down to the pupusa (an El Salvadorian snack of a corn tortilla stuffed with cheese and fillings) vendors on the street, who were maybe making $5 a day, would be shaking these people down… This is suffocating the economy and suffocating the willingness of people to want to get up and go out and take over. There has been an uptick in business activity and the emerging market is booming.”
Positive Effects of Cryptocurrency Use, According to Keiser
For Max Keizer, the positive effects of BTC adoption in El Salvador have been noted with a growth in the Gross Domestic Product (GDP) of 10.3%, as well as a boom in industries such as tourism, where it increased by 83%. Keizer noted that the country is “wide open” for digital nomads.
Months ago, Samson Mow highlighted the advantages that BTC could bring to the country’s economy and to interested investors, and said he agreed with aspects raised by Max Keizer, who about two weeks ago, stated that the advance of the cryptocurrency, and its consequent projects such as volcanic bonds, will entail positive effects for various sectors of the Salvadoran economy.
“The minimum to invest is $100, thanks to the use of Liquid, and that opens the possibility for normal people to invest in El Salvador. Historically, the bonds were destined for entities with a lot of funds, and the minimum was thousands or millions of dollars.”
It is worth remembering that last March, during an interview for the El Salvador newspaper, Samson Mow, iconic cryptocurrency investor and CEO of Pixelmatic, creator of InfiniteFleet, and architect of Bitcoin bonds, explained the variety of opportunities that they present as a unique investment in its type.
The investor and architect of volcanic bonds in El Salvador, Samson Mow, highlighted the advantages that these could bring to the country’s economy and to investors interested in this special type of asset.
Keizer Advocates for El Salvador to be the Next Singapore
For Max Keizer, El Salvador could become the next Singapore, with Bitcoin at the center, with geothermal mining, as well as with appropriate securities laws to support the process and solutions, so that other neighboring countries can replicate the model.
In July, Max Keizer and Stacy Herbert donated $10,000 in Bitcoin to the families of police officers recently killed by gangs in El Salvador. Thus, they demonstrated the extent of the solidarity that exists in the world of cryptocurrencies.
“Max and I donated $10,000 on behalf of @bitfinex to each family of the murdered police officers in El Salvador. We were able to speak with the families, including some of the very young children, who had buried their loved ones today after making the ultimate sacrifice for El Salvador.”
By Audy Castaneda
