Key facts: Max Keizer assures that a better credit rating is now established for El Salvador. They celebrate that El Salvador applies transparency, because it involves public funds. Yesterday, Thursday, March 14, was a historic day for El Salvador, after re-elected president Nayib Bukele made public, for the first time, a Bitcoin address linked to the Salvadoran State. A milestone that the community of bitcoiners around the world applauded in style. Viareveal where the BTC are kept that his government has purchased since September 2021 and has generated through different programs and initiatives. John Dennehy, the leader of the Salvadoran educational project Mi Primer Bitcoin, was one of the first to applaud Bukele's action. As the bitcoiner sees it, transparency “should be a standard.” In his opinion, “once again El Salvador leads by example.” With this, Dennehy highlights that teaching or influencing others is demonstrating, through one's own actions and behaviors, what one really wants to convey. In this case, it is a government that manifests transparency by revealing where it stores part of the nation's treasure, and it does so through the Bitcoin network. Bitcoiner and businessman Max Keiser, currently a member of the governmental National Bitcoin Office of El Salvador, expressed a similar opinion. He claimed that with the release of the Bitcoin address, “the cat is out of the bag and the rating agencies are taking note.”
“Bitcoin materially changes the quality of the collateral base layer of the country's finances and sets up a credit rating upgrade in the near future. Bukele is the sovereign. Goodbye International Monetary Fund.” Max Keizer, member of the National Bitcoin Office of El Salvador.
As reported by BitcoinDynamic, Salvadoran President Nayib Bukele made a Bitcoin address public for the first time in history. There are more than 5,600 BTC stored there, which will be transferred to a cold wallet that will be stored in a physical vault within the national territory. The data is revealed after several years of speculation around the bitcoin holdings acquired by Bukele and his government.
The leader of Mi Primer Bitcoin applauded Bukele. Source: X.
The first bitcoin Fort Knox is in El Salvador
Brian Morgenstern, public policy leader at the mining company Riot, exalted Bukele's transparency with his revelation. He assured that the first known “bitcoin Fort Knox” is located in El Salvador. Fort Knox is a military installation where the United States has its largest reserves of gold stored. “The US government and many others hold BTC, but not openly as a strategic reserve asset. “This is a significant advance,” said Morgenstern. Dany Alos, Argentine bitcoiner, united to the celebration highlighting that Bukele “did the right thing” by publishing the Bitcoin address where the reserves of all the country's citizens are housed. “This is public money and transparency is essential. This allows all Salvadorans to monitor their funds,” Alos asserted. Coinciding with the bitcoiner user @omercier, who praises that El Salvador “is the first country in the world to publish its reservation address.” For bitcoiner Alex Gladstein, current strategy leader at the Human Rights Foundation (HRF), in 20 years there will be a lot of big nations that will want to have 5,689 BTC, like El Salvador has today. This, considering that, in 20 years, bitcoin will be well above its current pricedue to the effect of supply and demand.
Gladstein suggests that in a few years there will be countries that will regret not having invested in bitcoin. Source: X.
“There is no doubt that Bukele transforms the country”
Bitcoiner and BTC evangelist in Latin America, Juan Fonseca, also reacted positively to the revelation made by Bukele. In the opinion of the enthusiast, “now there is no longer a single doubt that the president is transforming the country and that he is doing it in an efficient and transparent manner.” “Bitcoin is the best way to rescue a nation's economy,” he said. “Anyone can, starting today, review the address and be certain that the nation's BTC are real, they are there and they are strengthening the country's reserves and economy.” Something similar to what was expressed by the Salvadoran tourist guide Sandy Waves, for whom investment in bitcoin “It means our nation is on the path to prosperity.”
“With funds stored in a cold wallet, we are ready to achieve financial independence. As BTC soars, we are on track to pay off the (IMF) loan, ushering in a new era of prosperity and freedom,” Waves noted.