• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
El Salvador Bukele Bitcoin

El Salvador: Bukele’s Bitcoin Plans Unveiled Before Sunday’s Vote

Jake Simmons
by Jake Simmons
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

As El Salvador approaches its national elections on Sunday, Vice President Felix Ulloa, in an exclusive interview with Reuters, outlined the government’s unwavering commitment to Bitcoin, especially in the context of President Nayib Bukele’s potential second term.

Vice President Ulloa, who is currently on leave to campaign for re-election alongside President Bukele, confirmed that BTC’s status as legal tender in El Salvador will continue unabated. This statement comes amidst El Salvador’s ongoing negotiations with the International Monetary Fund (IMF) for a $1.3 billion loan, where the IMF has suggested that El Salvador “reconsider” its adoption of Bitcoin.

Ulloa expressed the government’s firm stance against reversing its decision on Bitcoin, especially in light of the recent move by the US Securities and Exchange Commission (SEC) to approve US-listed exchange-traded funds (ETFs) that track BTC. He remarked, “Not only will it [the law] be maintained,” adding, “At this moment, it enjoys the greatest credibility in the entire world.”

Related Reading: New Study Reveals How Bitcoin Has Fared In El Salvador As Legal Tender

If President Bukele and his New Ideas party secure a victory in the upcoming election, as widely predicted by polls, the Salvadoran government intends to proceed with launching Bitcoin-backed bonds, colloquially known as “Volcano Bonds,” within the first quarter of 2024.

These bonds are part of a broader effort to harness Bitcoin for the country’s economic development and are closely tied to the proposed Bitcoin City project, which includes leveraging geothermal energy from volcanoes for BTC mining.

Bukele’s Bitcoin Plans For 2024

The construction of Bitcoin City, a tax-free crypto hub proposed by President Bukele in Eastern El Salvador, remains a key part of the administration’s plans. Additionally, the government aims to issue passports to investors who contribute the equivalent of $1 million in BTC. This initiative is designed to attract significant BTC investment into the country.

Related Reading: El Salvador’s Volcano Bond Gets Regulatory Nod: A Milestone For Bitcoin’s Future?

El Salvador made history in September 2021 by becoming the first nation to establish BTC as legal tender, a decision that attracted substantial international criticism, notably from the IMF. However, Vice President Ulloa, a 72-year-old lawyer, remains hopeful that the country will overcome the challenges associated with accessing IMF financing, especially given that “the majority of the package has already been agreed upon.”

This steadfast approach to integrating Bitcoin into El Salvador’s financial system signifies a significant chapter in the global narrative of digital currencies and their role in national economies. The forthcoming election results will be crucial in determining the future trajectory of these pioneering initiatives.

At press time, BTC traded at $42,190.

Bitcoin price
BTC price hovers below the 0.236 Fib, 4-hour chart | Source: BTCUSD on TradingView.com
Featured image from RiffReporter, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jake Simmons

Jake Simmons

Follow

Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

Full Profile

Related Posts

bitcoin

Sora Ventures Unveils Asia’s First Bitcoin Treasury Fund With $1 Billion Buying Plan

1 day ago
Bitcoin

Looking For A Good Bitcoin Entry? Crypto Research Firm Reveals The Best Time To Buy BTC

1 day ago
Bitcoin Buying Frenzy Ahead As Eric Trump Predicts ‘Floodgates Are Opening’

Bitcoin Buying Frenzy Ahead As Eric Trump Predicts ‘Floodgates Are Opening’

1 day ago
Bitcoin Holdings By Public Firms Cross 1 Million BTC As Asset Gains Traction

Bitcoin Holdings By Public Firms Cross 1 Million BTC As Asset Gains Traction

2 days ago
Bitcoin Mining

Bitcoin Miners Brace For 5% Difficulty Spike To Fresh Record

2 days ago
The Bitcoin Liquidity Battle Intensifies: Coinbase vs. Kimchi Premium

The Bitcoin Liquidity Battle Intensifies: Coinbase vs. Kimchi Premium

2 days ago

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    18 hours ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    18 hours ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    22 hours ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    2 days ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.