Bitcoin-Friendly El Salvador to Host Central Banks Meeting on Digital Economy

El Salvador is set to host delegates from different countries to discuss financial inclusion such as the digital economy, banking the unbanked, and the benefits of Bitcoin. 

Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country.

— Nayib Bukele (@nayibbukele) May 16, 2022

El Salvador to Host Delegates From 44 Countries

The country is famous for its Bitcoin adoption and legalization as a digital money which can be used to trade goods and services. 

El Salvador’s president Nayib Bukele disclosed on Twitter that he will be meeting with 32 central banks and 12 financial watchdogs from 44 countries later this week for financial talks. 

Countries attending the event include Nigeria, Pakistan, Bangladesh, Paraguay, Haiti, Madagascar and the Maldives, with most of them emerging from underdeveloped economies. 

Just like El Salvador, countries with relatively low economies have bolstered Bitcoin adoption in the past, according to a survey conducted by Gemini. The study revealed that close to half of investors from underdeveloped nations hold crypto assets compared to that of developed countries like the United States. 

El Salvador Supports Bitcoin

Since its Bitcoin adoption, El Salvador has continued to show massive support for the digital asset class, from mining Bitcoin with volcanic energy to sharing a picture of its future Bitcoin city. 

The country also has a decent portfolio loaded with Bitcoin (BTC). Last week, El Salvador became the number one country with the largest BTC portfolio after President Bukele revealed that the nation purchased another 500 bitcoins worth about $15.5 million.