It has been reported that El Salvador President Nayib Bukele will visit Russia for a Bitcoin-centered speech.
El Salvador President Nayib Bukele is reportedly planning a visit to Russia in the new year, with Bitcoin reportedly a central topic and a key role in the talks.
But as the talks are still in their early stages, the success of the visit will largely depend on the political situation, especially the US attitude towards Russia.
Bukele had considered visiting Moscow earlier this year, but sources say the visit will depend on how the U.S. responds to Russia. El Salvador will have to navigate the complexities of relations between the countries, as it is heavily dependent on U.S. aid.
Alexander Ilyukhin, First Secretary of the Russian Embassy in Nicaragua and Head of the Office in El Salvador, confirmed that talks regarding the visit are ongoing.
Stating that both sides are optimistic, Ilyukhin said that several factors will be effective in the approval, and that the political environment, especially after Trump returns to power, will be decisive.
“While we are optimistic, practical implementation depends on a combination of factors and the current international situation,” Ilyukhin said, noting that US policies will play an important role in this process.
Bitcoin: A Shared Interest Between El Salvador and Russia
El Salvador made history in 2021 by becoming the first country to accept Bitcoin as legal tender.
The move was aimed at increasing financial access to its largely unbanked population. In 2024, Russia turned to cryptocurrencies in an effort to evade international sanctions and bypass traditional financial systems.
Although the political environment plays an important role in shaping relations, Bitcoin offers a special opportunity for both countries to cooperate.
A shared interest in alternative payment models such as cryptocurrencies could allow both countries to establish an economic relationship that bypasses traditional financial systems to support trade and innovation.
Stay tuned