Bitcoin bank proposal gains momentum in El Salvador
The Bank for Private Investment will “diversify the financing options” available to investors in both Dollars and Bitcoin.
El Salvador’s pro-Bitcoin president Nayib Bukele is proposing the establishment of private investment banks within the nation, which if approved, will offer Bitcoin (BTC) investors access to financial services and fewer restrictions compared to traditional banks.
“As part of our economic plan for El Salvador, we propose a BPI, Bank for Private Investment, where we can diversify the financing options offered to potential investors in Dollars and Bitcoin,” the Salvadoran Ambassador to the United States Milena Mayorga wrote in a June 14 post on X.
“President Bukele hits the ground running in new term with new legislation establishing a Bitcoin Bank,” senior Bitcoin advisor to Bukele, Max Keiser, added on the same day, noting Ark Invest CEO Cathie Wood’s forecast that El Salvador’s real GDP “could scale 10-fold during the next five years” has only become “more likely.”
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Author: Ciaran Lyons
