Government announcements, industry reports

El Salvador's President Bukele Sworn In for Second Term (2024-2029) Amid Bitcoin and AI Ambitions, GDP Tenfold Prediction

Jun 1, 2024, 04:19 PM

El Salvador's President Nayib Bukele has been sworn in for a second term, spanning from 2024 to 2029, marking a significant moment in the country's recent history. The inauguration ceremony saw attendance from notable figures including Donald Trump Jr. and Tucker Carlson. President Joe Biden announced a U.S. presidential delegation led by Secretary of Homeland Security Alejandro Mayorkas to attend the event. Bukele's administration has been recognized for its focus on Bitcoin and AI, with Cathie Wood predicting that these initiatives could increase El Salvador's GDP tenfold over the next five years. Bukele aims to transform El Salvador into a hub for Bitcoin and AI, offering tax incentives to attract these industries. The discussions on Bitcoin and new capital markets also involved Cathie Wood and Art Laffer, as highlighted at the Unchained event.