After making Bitcoin a part of its national financial policy, El Salvador is ready to take its blockchain aspirations to the next level.
According to Max Keiser, a senior Bitcoin advisor to President Nayib Bukele, the government plans to deploy a Bitcoin node in every household.
Keiser shared this bold policy plan through his Twitter/X handle, saying that it’s one of President Bukele’s visions for the new year. He said Bukele’s government is positioning El Salvador to become a decentralized nation-state, with Bitcoin as one of its main currencies, where its people can experience “true freedom.”
Keiser revealed that one of the New Year’s resolutions that President Bukele is preparing is Install a Bitcoin node in every home in El Salvador. This initiative seeks to accelerate the development of a decentralized nation-state model in the country. https://t.co/QSHhVGz9OK
— Max Keiser (@maxkeiser) January 14, 2025
El Salvador And Its Bitcoin Policy
El Salvador made headlines in 2024 after doubling down on its efforts to include Bitcoin and blockchain technology in its financial system.
This Central American country was the first nation to accept Bitcoin as legal tender and one of the first to integrate the digital asset into its reserves.
Today, El Salvador is one of the biggest Bitcoin holders, with 6,000 units valued at more than $561 million.
Source: BitBo Bitcoin Treasuries
To start the year, El Salvador is ready to implement its Bitcoin-first policy by integrating crypto nodes into households. According to Max Keiser, the plan to add Bitcoin nodes aims to transform this Central American country into a full-fledged Bitcoin ecosystem.
‘True Freedom’ With Bitcoin And The Blockchain: Bukele
In his Twitter/X post, Keiser shared that El Salvador is better positioned than the United States. He added that with the US’ unstable crypto infrastructure, it needs trillions of dollars to run its Bitcoin program.
The Trump administration will not get Congress’ approval to fund $1 trillion worth of Bitcoins. El Salvador, he shared, is ready to push economic decentralization and address financial inclusion.
Installing Bitcoin nodes in houses reflects the government’s commitment to Bitcoin. This move will also increase the public’s engagement with Bitcoin and the blockchain network.
By running these Bitcoin nodes at home, locals can theoretically gain greater control and transparency over their transactions. This plan will also promote greater decentralization and lessen the locals’ reliance on central points.
Bukele’s Plan For Bitcoin Nodes Faces Challenges
Although Bukele’s plan to add nodes has attracted optimism and attention, there were also concerns about the project. For example, it’s still uncertain if the people will accept the government’s new proposal. A few months ago, El Salvador floated the idea of Bitcoin volcano bonds, but this was not widely accepted.
Also, some critics say that adding a Bitcoin node in every home is not financially viable, and others say that the plan is only a “grand illusion.”
Although Bukele’s recent plans were not warmly received, El Salvador remains a popular haven for crypto and blockchain companies. Some crypto firms, like Bitfinex Derivatives, are planning to set up shop in the country.
Featured image from Fortune, chart from TradingView
