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El Salvador’s President Says Bitcoin is Pushing the Tourism Sector

ByLouis Adams

Mar 8, 2023 #Bitcoin
Reading time: < 1 minute

Despite pressure from the IMF and the World Bank and risks to financial stability, El Salvador has not cancelled the law recognizing BTC as a means of payment.

As a result, the tourism sector of the country grew by 95% after the legalization of cryptocurrency.

The country’s president Nayib Bukele has stated that conferences dedicated to blockchain are regularly held in the country and that fans of cryptocurrency have begun to come to El Salvador.

In addition, Morena Valdez, the head of the Ministry of Tourism of El Salvador, has announced that the economy has grown by 30% in the three months since the cryptocurrency law came into force. Bukele does not rule out that in the future, the majority of capital will move to the decentralized finance (DeFi) market as people seek economic freedom.