El Salvador places a "Welcome to Bitcoin Country" monument

[PrivacyG]

Why would a monument be Bullish news for Bitcoin?  It would show a ton of immaturity if the Market got moved by this.

I suppose it is a deserved monument.  Although in my opinion their move to make Bitcoin legal tender did not do a significant change in the global adoption of Bitcoin and other leaders did not seem too happy about it, they did become the first 'Bitcoin country'.  Before Salvador, we mostly only had Bitcoin Streets and businesses adopting it.

[snowpega]

El Salvador places a "Welcome to Bitcoin Country" monument at their largest airport.
....

I am not going to say it is bullish, but for the long term, it is a bullish sign for Bitcoin, as it is being advertised in a very good way, which can lead to great influence in the international world. As those who are not still familiar with Bitcoin will get to know about this and do their research on it and will start to take interest in it after their research, and maybe they will be able to come to such an end as to consider investing in it for the long term. As we all know that El Salvador owns a lot of bitcoins.

And according to my best knowledge, it is the legal tender in their country, and they can use it to fulfil their daily basic needs. This act may inspire other countries to advertise Bitcoin as a great asset in their countries. And some days ago I was reading a piece of news where El Salvador announced that they will now all be in on Bitcoin and AI, and from this you can get the idea of how bullish El Salvador is on Bitcoin as its investor.

[tread93]

El Salvador places a "Welcome to Bitcoin Country" monument at their largest airport.



https://x.com/BitcoinArchive/status/2009352229656858698

Bullish news for us? It seems that Bukele despite the warnings from IMF. And there are even doubts of him buying Bitcoin as they say that he is just moving it from wallet to wallet to show that he is accumulating.

https://intel.arkm.com/explorer/entity/el-salvador

El Salvador Government arkham-check 19 Addresses
7526.37408835 BTC - $679,307,946.09

El Salvador could be referred to as a Bitcoin country because it is the first to make Bitcoin a legal tender, and the law still exists to this day. The Central African Republic was the second, but it couldn't continue after a few months. The monument is good for Bitcoin promotion as travellers will likely see it and maybe consider using Bitcoin.

The reports about El Salvador secretly buying Bitcoin despite the IMF's warning is good news. In November last year IMF claimed that the country has stopped Bitcoin accumulation. Arkham Intelligence tracking has shown otherwise. This shows that the government's goal of accumulating Bitcoin cannot be thwarted by external forces. 

I love the persistence. Buying more bitcoin is a huge FU to the IMF and El Salvador is now wearing this monument like a badge of honor. And they should! I think what they are doing and continue to do is paving the way as a true leader in bitcoin adoption and they will inspire other countries to do the same. Just wait until you have more episodes like what happened in Ukraine and Vietnam where they froze bank accounts and had lines for days out the bank and nobody could get their money. Times are changing.

[fuguebtc]

El Salvador has yet dedollarized in their nation but their investment in Bitcoin, and their Bitcoin friendly polices actually have some good contributions in their nation and in the future, with Bitcoin growth globally, their nation will get some more benefits.

USD remains the main currency in El Salvador, and I highly doubt they will abolish it someday. That will never happen, and instead of thinking they will eliminate it, they've eliminated bitcoin from their monetary system. Bitcoin will no longer be legal tender in that country starting in 2025.

Furthermore, the only benefit that bitcoin has brought to their country is the significant growth in the tourism industry in recent years. Beyond that, Bitcoin has yet to bring about any significant improvement to its economy as they had hoped.

Bitcoin is just another investment like gold. I do not think it can improve or bring any significant benefits to the national economy, regardless of which country it is.

[MarjorieZimmermanGinger]

Bullish news for us? It seems that Bukele despite the warnings from IMF. And there are even doubts of him buying Bitcoin as they say that he is just moving it from wallet to wallet to show that he is accumulating.

This is one of the countries I'd like to visit because it has a bargaining chip that could be on my personal bucket list. Speaking of El Salvador, it inevitably leads to the discussion of Bitcoin, as they are arguably one of the countries that fully accepts Bitcoin. If something like this were established in the United States, we might see a much greater positive impact, as the United States is a key player in global economic policy and thus would undoubtedly have some impact. However, since El Salvador doesn't directly influence global economic policy, perhaps they could achieve other benefits, such as attracting tourists to the country with certain considerations.

[X-ray]

El Salvador places a "Welcome to Bitcoin Country" monument at their largest airport.

Bullish news for us? It seems that Bukele despite the warnings from IMF. And there are even doubts of him buying Bitcoin as they say that he is just moving it from wallet to wallet to show that he is accumulating.

IIRC, the agreement with the IMF was to stop using Bitcoin as a legal tender, which El Salvador is still maintaining. Hence, instituting a Bitcoin monument at the airport is not a breach of the agreement.  Also, there is nothing bullish about the news, and I do not expect the market to react to this kind of news.

It's more of marketing to attract crypto nomad or whatever it is to travel into there, maybe to pump the income from tourism.

Like as you said, the agreement with IMF still stands to not require business to use bitcoin and they took $120 mln for it if i'm not mistaken.

Honestly, nothing wrong with it though.

[el kaka22]

They should be happy with this situation, Bukele did all he could for this country to turn into bitcoin country, while there are some downsides and legal tender issues and what not, they are not stopping and still working towards it.

Unfortunately they faced a ton of issues with IMF and that wasn't easy to overcome, but that didn't stop them from investing into the countries image as bitcoin loving country and they are still doing it. While I am sure there are some who hate it even there, the percentage of people who use it is higher than percentage of many other places and that is why we need to accept that Bukele did something right. Will it benefit them? We will see it with time and it will do a fine job if you ask me.

[davis196]

Mass Bitcoin adoption in El Salvador had subpar results(I don't want to admit that it was a failure). El Salvador isn't a pretty well known country and most people around the world don't know anything about that country. Making Bitcoin a legal tender has some "marketing" benefits. Every crypto enthusiast around the world knows that El Salvador had made Bitcoin a legal tender. This is something the country can brag about(despite having little to no success with convincing it's own people to use BTC as a main payment method for everyday purchases).
I can't consider El Salvador a true "Bitcoin country" because Bitcoin isn't the one and only legal tender in that country.
 

[As-Soon-As]

This is not possible, El Salvador's President Nayib Bukele is a Bitcoin lover. He has taken various steps to create interest in Bitcoin education among the people of his country and has launched programs for Bitcoin education in various schools. Therefore, Bitcoin purchases are ongoing in El Salvador regularly and they are depositing Bitcoin in multiple wallets.

[Mpamaegbu]

Bullish news for us?

Of course, it's!

It seems that Bukele despite the warnings from IMF.

IMF should go screw itself. I will like for more countries to negate its advice from time to time. I don't like it when countries get tied to IMF's apron strings. El Salvador should be applauded for taking the Bitcoin way early enough when it did. The country is better for it now. We know IMF doesn't like countries not coming to it for financial consultations and support. That's its strategy for controlling them.

[Dr.Bitcoin_Strange]

This is not enough to make the price of Bitcoin pump because the country has already accepted Bitcoin as a legal tender years behind us now and as at then, it impacted the price of Bitcoin, so this one is not enough to make price pump, but it's so much of a good improvement that they had to put it at the airport which creates a wide visibility for Bitcoin to be seen or heard by some new travelers for the first time. That's actually a form of marketing and also telling new visitors how Bitcoin friendly the country is.

[arwin100]

This is not enough to make the price of Bitcoin pump because the country has already accepted Bitcoin as a legal tender years behind us now and as at then, it impacted the price of Bitcoin, so this one is not enough to make price pump, but it's so much of a good improvement that they had to put it at the airport which creates a wide visibility for Bitcoin to be seen or heard by some new travelers for the first time. That's actually a form of marketing and also telling new visitors how Bitcoin friendly the country is.

I think the people already get used about latest thing happened on El Salvador since many people already knows that they are Bitcoin friendly nation.

That's why even if there's positive news happened people often see it as normal thing that's why it didn't move the market.

But still those actions they have done can draw lots of attention and provably that monument will became a tourist attraction their country. Since many people would provably like to visit it especially if they travel on El Salvador.

[PrivacyG]

That's why even if there's positive news happened people often see it as normal thing that's why it didn't move the market.

Do you seriously expect Bitcoin to move due to a monument?  This sounds like something out of the Musk Memecoin era.  I understand why Doge Coin would have moved if Musk put a monument of it in front of Tesla years ago.  But this would show Bitcoin as an extremely immature Asset or Market.

[free-bit.co.in]

Mass Bitcoin adoption in El Salvador had subpar results(I don't want to admit that it was a failure). El Salvador isn't a pretty well known country and most people around the world don't know anything about that country. Making Bitcoin a legal tender has some "marketing" benefits. Every crypto enthusiast around the world knows that El Salvador had made Bitcoin a legal tender. This is something the country can brag about(despite having little to no success with convincing it's own people to use BTC as a main payment method for everyday purchases).
I can't consider El Salvador a true "Bitcoin country" because Bitcoin isn't the one and only legal tender in that country.
 

Although bitcoin is not the only legal tender, and it is no longer legal tender in El Salvador. But we also cannot deny that they were one of the pioneering countries in adopting and being friendly toward Bitcoin from an early stage, when many other countries were still skeptical about bitcoin.

Although they are not superpowers or have the global influence of the US or China, and their adoption of bitcoin has not been truly successful. But considering their contribution to promoting the popularity of bitcoin. They are the country that deserve the title "Bitcoin country" more than any other country.

[slaman29]

So I am trying to find a shop selling souvenirs from El Salvador shipping to Asia. Paying btc.

Am I so bad at Google now I cannot easily find something from Bitcoin country?

Surely Bitcoin country has one such shop.

[abaeze]

As a Bitcoiner, it is a pleasure, but El Salvador has shown us what problems arise when a country legally uses Bitcoin. El Salvador has taught us that if a country wants to use it legally, it has to face not only the tech but also the social and political challenges of Bitcoin. Considering all the realities of the politics that the IMF and the World Bank have done with the people of El Salvador regarding Bitcoin, El Salvador deserves the title of "Bitcoin country" because of their contribution. And the example that El Salvador has set to teach the world this is the biggest contribution to it.