'Simple But Very Shocking:' El Salvador's Pro-Bitcoin President Thinks He Knows Why US Collects Taxes Despite Ability To 'Print Unlimited Amounts Of Money Out Of Thin Air'
Portfolio Pulse from Benzinga Neuro
El Salvador President Nayib Bukele, a proponent of Bitcoin, questioned the sustainability of the U.S. government's monetary policy, specifically its ability to print money indefinitely. During a speech at CPAC, he suggested that the U.S. finances itself through Treasury bonds bought by the Federal Reserve, which prints money for this purpose. Bukele argued that taxes are collected to maintain the illusion of public funding for the government. His comments come amid criticism of his governance and his support for Bitcoin as legal tender in El Salvador.

February 27, 2024 | 10:31 am
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Bukele's remarks and El Salvador's adoption of Bitcoin as legal tender highlight growing interest in cryptocurrencies as alternatives to traditional monetary policies. This could influence Bitcoin's value.
Bukele's comments and actions as a national leader endorsing Bitcoin directly relate to the cryptocurrency's legitimacy and adoption. His critique of traditional monetary policy could drive interest towards Bitcoin, seen as an alternative economic model, potentially increasing its value in the short term.
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