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El Salvador President Nayib Bukele announced at the Bitcoin 2021 Conference in Miami that the country is in the process of adopting Bitcoin as legal tender.
Bukele Tweeted that “If 1% of [Bitcoin] is invested in El Salvador, that would increase our GDP by 25%.
On the other side, #Bitcoin will have 10 million potential new users and the fastest growing way to transfer 6 billion dollars a year in remittances.”
Frank Holmes, CEO of U.S. Global Investors and executive chairman of HIVE Blockchain Technologies, said that the main concern would be the illicit activities being financed by Bitcoin under such a regime.
“I think conceptually, if you’re an idealist, it sounds good. The issues we always have risks with, is a leader like this in El Salvador, is that it’s going to become a domicile for nefarious activity,” Holmes told David Lin, anchor for Kitco news.
0:00 – Miami Bitcoin conference
1:04 – “Bitcoin is a scam” – Donald Trump
2:55 – El Salvador legalizing Bitcoin
6:14 – G7 is a “cartel” – tax hikes for corporations
9:52 – Green energy crypto coins
13:45 – Bitcoin, Ethereum price volatility
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Buying Silver Bullion Considerations
When buying anything, and silver bullion is no different, you need to keep in mind the concept of ‘value’. How you determine value is different for each and every investor. Ask yourself several times why you are buying silver bullion in the first place.
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What You Need To Know About Investing In GoldThere are many ways of buying gold. Research and find out what is best for you. Investing in gold can be lucrative.
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