Bitcoin enthusiasts gathering in El Salvador on Friday said the recent surge in the cryptocurrency's value since Donald Trump's victory in the US election had boosted their hopes that the price would rise further and bitcoin adoption would grow. generalize on a global scale.
Dozens of domestic and foreign “bitcoiners” gathered at the “Adopt Bitcoin” conference held just outside the Salvadoran capital, with the Central American country touting its status as a rotating platform for the promotion of digital currency exchanges.
Three years ago, President Nayib Bukele made El Salvador the first country in the world to make bitcoin legal tender, along with the US dollar. The move drew criticism from the International Monetary Fund, with which the country is negotiating a $1.3 billion loan.
Bitcoin, which was trading at more than $90,000 on Friday, hit its all-time high after Mr. Trump took office in his new term, which is set to begin in January. Investors see the new president as a champion of cryptocurrencies who will reduce regulations.
“Trump understands what it is to be capitalist, he is going to get out of the way and remove regulations that are not necessary,” said Charlie Stevens, a 27-year-old Irishman who has lived in El Salvador for a year and half.
“Bitcoin is growing very, very quickly, before the eyes of the whole world. And the whole world has its eyes on El Salvador,” he added.
Mr. Bukele's office did not immediately respond to a request for comment.
The world's largest cryptocurrency has enjoyed a meteoric and volatile rise, trading at around $8,000 five years ago and starting this year at around $42,000.
In January, Vice President Felix Ulloa told Reuters that El Salvador would remain committed to the digital currency, despite Salvadorans' low use of bitcoin and some technical problems.
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