Have you ever seen a president of any country take the lead in speculating on currencies? Not only should Bitcoin be legalized, but the common people below should all use Bitcoin to trade. This weird president even used the entire national treasury to invest in Bitcoin. Do you think this kind of person is a lunatic or a fool? He is Nayib Bukele, the president of El Salvador, a small country in northern Central America. In addition to being the president occasionally, this eldest brother's main job is actually to be an Internet celebrity. He works intensively on Twitter every day, which is comparable to what Chuan Bao had back then. Let me show you his Internet celebrity selfie, but at the same time, this old man is fierce and has the iron-blooded flavor of Putin.
In February 2020, because the national lawmakers did not approve a budget for him, he rushed in with a group of biological fathers and armed younger brothers to conduct friendly negotiations. On the matter of legalizing Bitcoin, he also used Using the same physical method, the Bitcoin bill was easily passed. As a result, El Salvador became the first country in the world to use Bitcoin as a legal currency.
And what does a country that can freely use Bitcoin look like? For example, you must have never seen this
This is an ATM machine that can support Bitcoin transactions. There are more than 200 machines like this in El Salvador, and this software is the official digital wallet launched by their country, making it convenient for ordinary people to use Bitcoin, and everyone is the first You can also get almost 200 yuan when you register for the first time. So what is the Bitcoin atmosphere in El Salvador like? Let's take a look.
In the south of the country, there is a paradise called Bitcoin Beach, where you can pay with Bitcoin in hotels, bars, restaurants, and vendors, and that one even wants to build the ultimate Bitcoin Beach. The city is built next to a volcano in eastern El Salvador. It relies on the volcano's geothermal energy to power the city and mines. Even the entire city is shaped like a Bitcoin, giving people the feeling of gold in the One Piece movie. city.
To build such a huge tax-free paradise, it would cost at least US$17 billion, which is about more than 100 billion yuan. And he certainly does not have that much money, and it is impossible for the national treasury to spend so much money at once. So Nayib came up with the idea of issuing Volcano Coin bonds, which, to put it bluntly, is to issue a digital currency for others to buy. He also said that as long as he donated more than 100,000 US dollars to El Salvador, he could get the right to live in it.
When you see this, you may feel that that country and El Salvador are creating a miracle of digital currency. However, behind this extremely prosperous marketing, there is a small and devastated poor country. El Salvador is located in the coastal area of northern Central America. Its agriculture is relatively developed and it mainly produces coffee beans and cotton. However, its industrial technology is very weak and its infrastructure conditions are also very poor. What’s even more ironic is that among this country’s 670.1 million people, more than 500,000 people do not have access to clean water. Even in rural areas, only 1/10 people have access to the Internet. Therefore, it was once rated as a lower-middle-income country, and after the legalization of Bitcoin, their debt ratio accounted for almost 90% of the country's GDP, and they were close to the edge of bankruptcy.
El Salvador's social stability is even more notorious. The outside world calls it a country controlled by gangs. Even small things such as ordinary people's jobs and children's schooling are controlled by gangs from behind. As for social security, it is even more exaggerated. Last year, there were 936 homicides in El Salvador. Even during the six months of a severe crackdown on crime, 3,400 people were still murdered. Since it became a Spanish colony in 1524, chaos, conflict, and poverty have always been the labels of El Salvador. After reading the above, you may truly realize the magical place of El Salvador, a country where Bitcoin is legalized. This seems to be an absurd but real cyberpunk world. People living here will be watching the Bitcoins in their digital wallets while holding candles because of the power outage. Did it rise or fall today? Isn't it magical?