According to the venture capital investor, Nayib Bukele, it directs the country to pay off its debt with the International Monetary Fund (IMF) and avoid future negotiations with them.
Despite these advances, El Salvador’s decision to adopt Bitcoin has come under fire from the IMF, which has urged the country to reconsider its stance due to the perceived risks of this policy.
Photo: Reuters
Tim Drapera renowned venture capital investor and recognized for his predictions about the price of Bitcoinpraised the vision of The Savior by adopting this new technology and advanced what benefits this decision will bring to its population. To begin with, according to Draper, BTC will transform El Salvador into one of the most prosperous countries in the world in the next 30 or 40 years.
In an interview on the Web3 Deep Dive podcast, hosted by crypto expert journalist Rachel Wolfson, Draper praised El Salvador’s loyalty to Bitcoin. He stated that this cryptocurrency is contributing to the growth of the nation, improving its situation and will determine its future in the years to come.
Draper expressed his belief that, in approximately 30 or 40 years, El Salvador will go from being one of the poorest and most crime-affected countries to becoming one of the richest and most innovative nations in the world, all thanks to the adoption of Bitcoin as legal currency. Furthermore, he highlighted that the BTC purchases made by the Salvadoran president Nayib Bukele They will allow the country to pay off its debt with the International Monetary Fund (IMF) and avoid future negotiations with them.
The renowned venture capitalist also predicted that the price of Bitcoin will reach $250,000 this year and emphasized the possibility of a bank run. where people will prefer to own BTC instead of dollars.
Bitcoin: Bukele’s words
It is worth mentioning that Bukele, the president of El Salvador, shared on his social media account the income generated by the country through programs and investments related to Bitcoin. This income includes profits from the passport program, BTC to USD conversions for local businesses, mining income and government services.
Despite these advances, El Salvador’s decision to adopt Bitcoin has been the subject of criticism from the IMF, which has inted the country to reconsider its stance due to the perceived risks in this policy.
Source: Ambito
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