The economic impact of Bitcoin in El Salvador
TLDR: Bitcoin adoption in El Salvador is currently low and bitcoin does not change things over night. But by leveraging the lure of Bitcoin, El Salvador is attracting business, investments, and tourism that will boost the economy quickly.
Nov 30th 2021
Nayib Bukele announcing plans for the Bitcoin City at LABitconf in San Salvador. Source: Marvin Recinos/AFP/Getty Images
A few weeks ago, Arcane Research traveled to El Salvador to attend the Adopting Bitcoin Conference hosted by Galoy. Others have already written eloquently about both the El Salvador experience and the amazing conference. Instead of giving myself the difficult task of adding value to these takes, I advise you to check out LN Markets’s newsletters on El Salvador.