El Salvador’s President, Nayib Bukele, announced on Sunday that delegates from 44 countries will visit the country this week to discuss Bitcoin.
In a series of tweets, Bukele announced that representatives from 44 nations, including 32 central banks and 12 financial agencies, will gather in El Salvador to discuss financial inclusion, economic digitization, and the country’s well-known Bitcoin adoption.
The delegates seem to be from a variety of South American, African, and South Asian countries.
Delegates from Pakistan, Bangladesh, Paraguay, Haiti, Madagascar, and the Maldives will be hosted in the country.
The majority of the countries in attendance are from emerging or frontier economies, having a low economic profile. So, These countries have typically been in the forefront of crypto adoption.
While Bitcoin isn’t a viable inflation hedge for traders in the United States, it may have greater value in emerging nations, where inflation is much higher. For example, nations like Turkey and Argentina, where inflation recently reached 50%, have seen a matching increase in crypto usage.
El Salvador likewise accepted Bitcoin during a period of economic hardship, a trend that has lasted until 2022. Lastly, On a similar premise, the Central African Republic just made Bitcoin legal tender.
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