VanEck: Bitcoin-backed Trump administration may see El Salvador as a "strategic partner" for the US
2024-11-26 07:44:01
Vaneck digital assets research supervisor matthew sigel writingdesk3cryptocurrencydesktopCrypto News
A report authored by Matthew Sigel, head of digital asset research at VanEck, assesses the Central American country's experience with Bitcoin and its positive impact. The report notes that nearly 8% of Salvadorans will use Bitcoin for transactions in 2024, a "meaningful step" for a country that has traditionally had low adoption of electronic payments, in addition to the fact that the country's Bitcoin reserves already account for 1.6% of GDP. VanEck's analysis suggests that, given Trump's strong support for Bitcoin and focus on backflow and supply chains, El Salvador could become a strategic partner for the United States to build a regional alliance.
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