El Salvador's official Bitcoin office X account today (8th) posted, hinting that El Salvador will launch its first Bitcoin bank! In this tweet, the El Salvador Bitcoin office posted two images, one of which shows a bank with a "Bitcoin Bank" sign; the other image is accompanied by text that reads:
The Bitcoin Bank is entering the Bitcoin country.
Bitcoin is Unstoppable
Although El Salvador has not yet disclosed specific details of its Bitcoin bank, it is speculated that the country's Bitcoin bank may offer deposits, loans, and remittance services entirely denominated in Bit, and may even directly link to El Salvador's national BTC reserves.
In this context, Max Keiser, a senior advisor to El Salvador's President Nayib Bukele, stated directly in an interview:
"Bitcoin continues to move forward in El Salvador with an unstoppable trend. Bitcoin is consuming $400 trillion in global stored value, while leaving all central banks and their doomed, outdated institutions helpless."
Financial Inclusion and Capital Attraction
Insufficient bank penetration has long been a pain point in El Salvador's economic development. Using a Bit account can allow people who cannot open traditional bank accounts to directly enjoy online financial services. For families who need to make cross-border remittances for a long time, the advantages of low-cost and fast Bit cross-border transfers will be a sharp tool to improve people's livelihood.
As the global trend of embracing crypto and Block chain has formed, deeply integrating Bit may also bring additional boost to El Salvador's GDP, and potentially create a "capital magnetic field" to attract more investment and technical talent into the country.
El Salvador views Bit as a solution for inclusive finance and has pushed itself to the forefront of global financial transformation. Its success depends on three key factors: whether Bit prices can maintain a long-term upward trend, whether the government can timely supplement the regulatory puzzle, and the tolerance of multilateral institutions like the IMF for this "crypto experiment".
