It became known about the probability of launching a cryptocurrency bank that will work with bitcoin and dollars

El Salvador’s President Naib Buchele has proposed to create a private investment bank that will work with bitcoin and dollars. Earlier, El Salvador became the first country in the world to accept bitcoin as a legal tender.

According to Buquele’s plan, banks for private investment (BPI) will offer investors a wider range of financial services than traditional banks. In addition, they will also allow them to work not only with fiat, including the dollar, but also with the first cryptocurrency by capitalization.

«As part of our economic plan for El Salvador, we propose to create a BPI, a Private Investment Bank, where we can diversify the financing options offered to potential investors in dollars and bitcoin,» El Salvador’s Ambassador to the United States Milena Mayorga wrote in X.

Max Kaiser, Bukele’s senior BTC advisor, believes that such a move could significantly accelerate El Salvador’s economic growth. According to him, Katie Wood 's forecast of the country’s net gross domestic product (GDP) growth may become even more likely.

Earlier, the CEO of Ark Invest noted that El Salvador’s rate could grow tenfold over the next five years thanks to bitcoin policy.

In May, the El Salvadoran authorities launched a memo to track investments in the HTS. According to the latest data, the country manages 5,783 BTC worth $ 382 million. El Salvador not only buys bitcoins but also mines them on its own using innovative geothermal energy. Since 2021, the country has mined almost 474 bitcoins by combining financial technology with renewable energy.