El Salvador Continues Bitcoin Acquisition and Eliminates Income Tax for International Investments

According to CoinDesk, El Salvador is deepening its commitment to cryptocurrency, particularly bitcoin (BTC), with a series of strategic moves. President Nayib Bukele recently announced the country's plan to buy one bitcoin every day until it becomes unaffordable with fiat currencies. This initiative has increased El Salvador's bitcoin holdings to 5,690 BTC, valued at approximately $400 million. In addition to its cryptocurrency endeavors, El Salvador has eliminated income tax for international investments and money transfers, cutting the tax rate from 30% to 0%. This move is designed to attract foreign investors and boost economic growth. The country's commitment to bitcoin was further highlighted as it transferred more than 5,000 BTC into a cold wallet, with $400 million worth of bitcoin moved to an offline device stored in a physical vault within the nation's territory. This 'Bitcoin piggy bank' offers a higher level of security and signals strong faith in the cryptocurrency's future. El Salvador's bitcoin holdings have increased dramatically through daily purchases, sales of passports, currency conversions for businesses, mining, and government services. The country's pioneering stance on bitcoin began in September 2021 when it became the first country to adopt the digital currency as legal tender. Despite criticisms and warnings from international bodies like the International Monetary Fund (IMF), El Salvador remains committed to its bitcoin strategy, showing no signs of divesting from the cryptocurrency. As the country continues its bitcoin acquisition program and enhances its cryptocurrency infrastructure, it sets a precedent for others to follow, potentially reshaping the global financial landscape in the process.

查看原始新闻