Elon Musk, the Tesla billionaire who’s one of the most important bitcoin and crypto value influencers, has shared particulars of a secret assembly with El Salvador’s bitcoin-backing president Nayib Bukele.
The pair’s assembly comes as the bitcoin price is surging following a Federal Reserve bombshell that some think could kick off a new bitcoin price bull run.
Musk, who earlier this month backed a $36 trillion “by the end of 2024” warning over the spiraling interest payments on the huge U.S. national debt pile, revealed he and Bukele mentioned the “future of humanity” and expertise, although he didn’t point out bitcoin instantly.
“Simply had a superb dialog with president Nayib Bukele,” Musk posted to X, the social media platform he purchased and rebranded from Twitter.
“We talked loads concerning the nature of actuality, future of humanity and the way expertise like AI and robotics will have an effect on the world. El Salvador has an incredible chief.”
Bukele, who made historical past when he adopted bitcoin as authorized tender in El Salvador in 2021, shared a video of his assembly with Musk, posting to X that “it was a pleasure to spend a number of hours speaking with one of the nice minds of our time.”
Within the video, filmed at Tesla’s Austin headquarters, the pair could be heard discussing the longer term of the U.S., with Bukele predicting the nation’s days might be numbered.
Final month, Bukele admitted adoption of bitcoin in El Salvador has fallen brief of his expectations, telling Time “it might have labored higher” however has nonetheless been a “internet constructive” for the nation.
Alongside adopting bitcoin as authorized tender, Bukele is issuing bonds backed by bitcoin mined within the nation by way of volcano-powered computer systems, has launched a citizenship-through-investment scheme for foreigners who donate bitcoin to the federal government and has constructed a bitcoin stash price $360 million.
Musk, who was a significant driver of the bitcoin and crypto market bull run in 2021, purchased $1.5 billion price of bitcoin by way of his electrical automobile firm Tesla earlier than promoting most of it to eke out a quarterly revenue in 2022.
Tesla nonetheless holds nearly 10,000 bitcoin and has seen the worth of its bitcoin nearly double to $600 million during the last three years. Musk himself has stated he holds some bitcoin, ethereum and his “favourite” cryptocurrency dogecoin.
Musk, who has backed former U.S. president Donald Trump on this yr’s race for the White Home, has repeatedly warned during the last yr that the spiraling U.S. debt pile of greater than $35 trillion might “bankrupt” the nation.
Earlier this month, Trump stated Musk had agreed to function head of the Division of Authorities Effectivity, which Musk branded DOGE and stated can be “epic.”
Trump has promised to create a U.S. bitcoin strategic reserve if reelected in November, something he claims is necessary for the U.S. to “beat China.”
This text was initially revealed on forbes.com and all figures are in USD.
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Elon Musk talks ‘future of humanity’ with El Salvador’s president www.forbes.com.au 2024-09-23 02:52:17
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