El Salvador’s pro-Bitcoin president, Nayib Bukele, has proposed establishing a private investment bank in the country, which, if approved, would give Bitcoin investors access to financial services with fewer restrictions than traditional banks, according to Odaily Planet Daily. “As part of El Salvador’s economic plan, we propose the creation of a private investment bank (BPI) that could offer potential investors a diversified financing option in both U.S. dollars and Bitcoin,” wrote Milena Mayorga, El Salvador’s ambassador to the United States, in a June 14 post. Bukele’s senior Bitcoin advisor, Max Keiser, added the same day that “President Bukele has initiated new legislation to establish a Bitcoin bank during his new term.” He noted that Ark Invest CEO Cathie Wood predicted that El Salvador’s real GDP “could grow 10-fold in the next five years,” and that the aforementioned policy would make it “more likely” to achieve that goal.
