Pro-Bitcoin president of El Salvador to offer citizenship for foreign investors
https://ift.tt/BgQMP0C
Nayib Bukele clearly understands what exactly is possible (and what is not) when using political instruments.
The sovereignty of El Salvador — no matter how small the country and its population may be, or even how poor — is a very powerful instrument that cannot be bought with money, no matter how many dollars you have.
Bukele’s approach is much more powerful than the one of Dubai.
Dubai merely offers low tax and economic freedom. Dubai easily and regularly makes annoying U-turns, especially, under pressure of the EU. I do not trust Dubai’s policies. When push comes to shove, Dubai will backpedal again.
Bukele, on the other hand, proposes an attractive philosophical framework that is capable of guaranteeing consistency in future policy decisions. Bukele’s “Ok Boomers” tweet is very important in that respect.
Bukele has absolutely no intention of backpedaling. He is going to go all the way, whatever it may take.
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