President Bukele Proposes Bitcoin Bank for Investors

In a recent announcement, President Nayib Bukele of El Salvador has proposed the establishment of a privately operated bank specifically designed to cater to Bitcoin investors. This initiative aims to provide financial services distinct from those offered by traditional banks. Ambassador to the US, Milena Mayorga, highlighted that this bank for private investment (BPI) would create numerous financing opportunities for potential Bitcoin investors. Max Keiser, a Senior Bitcoin Advisor to President Bukele, views this as a strategic move to signal the country’s economic direction.
The proposal follows Bukele’s re-election for another five-year term and comes after El Salvador’s pioneering but controversial decision to legalize Bitcoin as currency in 2021. Bukele’s popularity has surged due to his crackdown on criminal groups like Mara Salvatrucha and Barrio, raising hopes for Bitcoin’s future in the country.