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On Sunday May 16, the President of El Salvador, Nayib Bukele, said that 44 countries will meet in El Salvador on Monday to discuss the Bitcoin standard.

Bukele wrote:

Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country.

The central banks and authorities are largely hailing from developing countries which have been historically wrought with financial woes and fiat corruption. These include Nigeria, Egypt, Nepal, Pakistan, Bangladesh, Kenya, Uganda, Rwanda, Paraguay, Angola, Guinea and Madagascar.


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It remains to be seen whether these countries are meeting solely to discuss bitcoin as the full agenda remains unknown.

Bukele’s announcement came a day after the Twitter account “Bitcoin Beach” confirmed the meeting, saying several countries are flying to El Salvador. In its Twitter bio, the Bitcoin Beach account describes itself as “the little community that helped Orange Pill the world’s first Bitcoin nation”.

El Salvador became the first country to adopt bitcoin as a legal tender in September 2021. The country holds the cryptocurrency on its balance sheet and has accumulated over 2,300 bitcoin to date. Its latest purchase was in May, where the country acquired 500 Bitcoin at a price of $30,744, per data from Bloomberg.

Bitcoin trades 6.7% lower than this price today after witnessing seven weeks of relentless selling.


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