The President of El Salvador, Nayib Bukele, assured on Tuesday that 2025 will be a “very important year” for the “exponential” revaluation of bitcoin with Donald Trump’s arrival to the U.S. presidency next Monday. “I personally believe that this year and the others, but especially this year due to Trump’s assumption (…) will be a very important year for bitcoin and for the entire ecosystem,” Bukele declared at a press conference at the Presidential House.
Trump’s arrival to power and the creation of a bitcoin reserve by the United States “will generate a revaluation, probably exponential,” and “a more friendly ecosystem for bitcoin,” he added. The Salvadoran president assured that his country, which has reserves in that cryptocurrency, is “expectant” and will benefit from a bitcoin boom.
Trump claimed credit in December for bitcoin’s value surpassing the $100,000 barrier. This rise has been fueled by his hints at creating a strategic reserve of the cryptocurrency in the United States. Despite saying they were a scam during his first term (2017-2021), during the election campaign he promised that the United States would become “the world capital of bitcoin and cryptocurrencies.”
El Salvador became the first country in the world to adopt bitcoin as legal tender in September 2021, alongside the U.S. dollar. In December, the International Monetary Fund (IMF) reached an agreement with El Salvador for a $1.4 billion credit, according to which the use of cryptocurrency will be voluntary for the private sector and not an obligation as it currently is, and the government’s participation in the Chivo crypto wallet “will gradually decrease.”
On Tuesday, Bukele confirmed that Tether, a billion-dollar company dedicated to stable cryptocurrency management, will establish its main offices in El Salvador.
