El Salvador, Bitcoin, and marketing.

True Story: this is Nayib Bukele's official Twitter profile pic.

Sounds like the beginning of a great joke, but this is serious.
El Salvador is looking to introduce legislation that will make it the world’s first sovereign nation to adopt bitcoin as legal tender, alongside the U.S. dollar.

“Next week I will send to congress a bill that will make bitcoin a legal tender,” said Nayib Bukele, President of El Salvador.

 How is this related to marketing? Do I have El Salvador Clients?

This is all marketing, and I don't have Salvadorians clients, yet.
Unlike any other currency in the world, Bitcoin is a very volatile coin, and it is not backed by specular interest, or popularity.

Why on earth would a country where roughly 70% of people do not have bank accounts would like to adopt a digital coin as legal tender?

That was not a title, I'm literally asking you.

I do marketing, but if we look at it from the marketing perspective: El Salvador was trending worldwide when Bukele made the announcement, popularity on Google jumped from an average of 15 point to 100, in a matter of hours.

Back at the economic stuff.

  • If only 1% of BTC gets invested in the country, El Salvador's GDP would surge 25%
  • About one fourth of the Country GDP comes from abroad Salvadorians supporting family members (about $6B./year). BTC would bypass the intermediate fees when transferring $$$.
  • Huge Crypto-world names are looking into partnering with the Country so the bill passes (win-win situation because BTC value would go up)

What do we get from all this?

1:We have to move to El Salvador because there are no property taxes there.
and 2:Whether BTC is a good choice for the country or not, it sure made a huge fuzz on the net and attracted some big names. We now have people with common interests pushing for this bill to pass so they can literally invest in El Salvador, and we now have a trending country online...memes to come soon.

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