Pro-Bitcoin Trump Administration Could See El Salvador Emerging As US 'Strategic Partner,' Says VanEck

Benzinga12:42

Asset management firm VanEck expressed optimism at El Salvador’s bold Bitcoin BTC/USD bet, terming it as a model of innovation for the emerging world. What Happened: A report penned by Matthew Sigel, ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPro-Bitcoin Trump Administration Could See El Salvador Emerging As US 'Strategic Partner,' Says VanEck\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-26 12:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/markets/cryptocurrency/24/11/42180536/pro-bitcoin-trump-administration-could-see-el-salvador-emerging-as-us-strategic-partner-says-vaneck><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Asset management firm VanEck expressed optimism at El Salvador’s bold Bitcoin BTC/USD bet, terming it as a model of innovation for the emerging world.\nWhat Happened: A report penned by Matthew Sigel, ...</p>\n\n<a href=\"https://www.benzinga.com/markets/cryptocurrency/24/11/42180536/pro-bitcoin-trump-administration-could-see-el-salvador-emerging-as-us-strategic-partner-says-vaneck\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://www.benzinga.com/markets/cryptocurrency/24/11/42180536/pro-bitcoin-trump-administration-could-see-el-salvador-emerging-as-us-strategic-partner-says-vaneck","article_id":"2486017794","we_media_id":null,"thumbnails":["https://www.benzinga.com/files/images/story/2024/11/25/el-salvador-bitcoin-shutter.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486017794","pubTimestamp":1732596135,"sourceInfo":{"source_id":"Benzinga","name":"Benzinga Cypto"},"weMediaInfo":null,"summary":"Asset management firm VanEck expressed optimism at El Salvador’s bold Bitcoin (CRYPTO: BTC) bet, terming it as a model of innovation for the emerging world.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BK4588":"碎股","BK4601":"加密货币现货ETF"},"translate_title":"瓦内克表示，亲比特币的特朗普政府可能会将萨尔瓦多视为美国的“战略伙伴”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"Asset management firm VanEck expressed optimism at El Salvador’s bold Bitcoin BTC/USD bet, terming it as a model of innovation for the emerging world.\nWhat Happened: A report penned by Matthew Sigel, VanEck’s Head of Digital Assets Research, took stock of the Central American nation’s experience with Bitcoin and its positive impact.\n\nHow El Salvador Became Latin America's Comeback Story: New VanEck Research https://t.co/mygU0TbTJs— Nayib Bukele (@nayibbukele) November 25, 2024\n\nThe report highlighted that nearly 8% of Salvadorans have used Bitcoin for transactions by 2024, terming it a “meaningful step” forward for a country with traditionally low electronic payment adoption rates.\nSigel touched down on the country’s soaring Bitcoin reserves, which represented 1.6% of the country’s GDP. \nThe idea of a “Volcano Bond,” the proceeds of which are aimed to fund the development of Bitcoin City, an economic zone powered by geothermal energy, was also lauded. \nSee Also: Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and ‘Eventually’ Top $1M\nFurthermore, VanEck bet on the country’s potential as a clean energy-powered Bitcoin mining hub. Interestingly, President Nayib Bukele floated the \"rent your volcano to mine Bitcoin” idea just a day before.\nThe report also foresaw strong collaboration between the incoming Donald Trump administration and El Salvador.\n“With Trump's well-documented support for Bitcoin and focus on reshoring and \"friend-shoring\" supply chains, El Salvador could emerge as a strategic partner in U.S. efforts to build regional alliances.”\nWhy It Matters: El Salvador has doubled down on Bitcoin ever since adopting the world’s largest digital currency as a legal tender in 2021. The country has adopted a plan to buy one Bitcoin every day, until it becomes unaffordable with fiat currencies.\nAs of this writing, El Salvador holds 5,945.77 Bitcoins in its treasury, worth nearly $561 million at current market prices.\nBut despite the promising figures, the Bitcoin adoption in El Salvador has not been a resounding success. \nEarlier in August, President Bukele admitted that the uptake of Bitcoin in the country hasn’t been as widespread as anticipated. However, he emphasized that the government never forced anyone to adopt it, offering it as an option instead.\nPrice Action: As of this writing, Bitcoin was exchanging hands at $94,259.83, down 3.74% in the last 24 hours, according to data from Benzinga Pro.\nPhoto Courtesy: Shutterstock.com\nRead Next: \n\nCrypto Expert Who Called 2022 Market Crash Warns About Bitcoin\n Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. 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