According to Odaily, Nayib Bukele, the Bitcoin-supporting President of El Salvador, has proposed the establishment of a private investment bank within the country. If approved, Bitcoin investors would have access to financial services with fewer restrictions compared to traditional banks.
In an article dated June 14, Milena Mayorga, the Salvadoran ambassador to the United States, wrote, 'As part of El Salvador's economic plan, we propose the establishment of a private investment bank (BPI) that can provide diversified financing options in dollars and Bitcoin for potential investors.'
On the same day, Max Keiser, Bukele's senior Bitcoin advisor, added, 'President Bukele has initiated new legislation to establish a Bitcoin bank in his new term.' He pointed out that Cathie Wood, CEO of Ark Invest, predicted that El Salvador's actual GDP could 'increase tenfold in the next five years.' If the aforementioned policy is implemented, it would be 'more likely' to achieve this goal.