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Bitcoin has been very attractive for the President of El Salvador, Nayib Bukele, who has bet the Central American country’s future growth and potential development on the number one digital currency according to market capitalization.
Bank of the Future in El Salvador
Bank of the Future is one of the leading companies worldwide related to crypto assets, carrying out the necessary procedures to obtain the permits that merit investments in digital assets in the Central American Country.
This company has stood out for demonstrating that the digitalization of finances is not only a fashionable topic but that it will become the financial future of people, individuals, and corporations.
The new way of looking at money is reflected in the concept of cryptocurrencies, which can be confusing and risky for many. Still, finances have changed, and now is the time for technology to take control of the various financial aspects.
That surrounds Bitcoin and its position in El Salvador as legal tender.
The primary strategy intended to be implemented in the aforementioned Central American Country is the Bitcoin Loan modality, where investments and interest-bearing retirement plans will be the bases of crypto investments.
To date, Bank of the Future has more than 1,600 million dollars invested in its platform; its shareholders expect to encourage investments to reach 6,000 million dollars, managing to recover those investors who have lost large sums due to the wrong policies of crypto companies’ capital.
An investment plan for El Salvador
After a tough year from the economic and financial perspectives of the crypto market, many companies were notably affected, after experiencing steep falls in the prices of the most recognized digital assets, including Bitcoin. However, it could be considered that bad decisions and these price drops made the picture even more complicated.
The recovery of these companies may not be easy, but it is not impossible; the essential thing is to build a new concept of the investment sector and traditional banking, where the systems must be adapted to a proposal based on Bitcoin.
The financial education of Salvadoran society represents a challenge that cannot be evidenced in a short period. Still, long-term strategies must be established where small, medium and large companies in the Country can adopt risk management systems.
It makes the administration of companies with Bitcoins easy, comfortable, and efficient at all levels of organizations, which will be reflected in the satisfaction of customers and users of digital currencies.
A saving conscience is another of the aspects that Bank of the Future for the Central American Country; consequently, business owners usually receive Bitcoin as a form of payment and immediately consume them, leaving aside the possibility that these balances are capitalized over time.
A country that bets on growth with Bitcoin
Many have considered the decision of the Salvadoran president too inopportune; it only remains to wait for the evolution of the digital asset market to be able to evaluate in depth the decision to invest part of the Country’s reserves in Bitcoin.
It is why the most favorable position and proactive attitude of the Bank of the Future are what are opposed to the International Monetary Fund and its discourse about crypto assets.
El Salvador’s greatest need is to have the human resource prepared to be able to transmit to citizens the strengths of Bitcoin and not the few disadvantages that could be created around it.
Conclusion
Almost a year after having made the most significant purchase a country has made in cryptocurrencies and with a decrease in value of more than 50% compared to its acquisition price, it is pretty alarming for the citizens of El Salvador to see that everything could be lost due to the volatility shown by this market.
Although everything could be pointing to a not-very-good and positive outlook, the CEO, Simon Dixon, of the financial institution Bank of the Future, has disclosed the company’s interest in establishing investment plans based on Bitcoin. Its main objective is El Salvador. More information enters the Bitcoin-Prime trading system
