Ark Invest CEO meets El Salvador president to push more Bitcoin adoption via AI tech

Reportedly Cathie Wood & Nayib Bukele met to discuss more use cases of Bitcoin at a big level in the country with the help of Artificial intelligence (AI) innovative adoption.

Cathie Wood is CEO of popular fund manager Ark Investment, which invests funds in those assets that are directly or indirectly dependent on the Bitcoin & Crypto sector. Personally Wood is a very big Bitcoin advocate. 

On 29 May 2024, A popular Bitcoin proponent & Bitcoin advisor to El Salvador president, Maxkeiser, disclosed that Cathie Wood discussed Bitcoin & Artificial intelligence (AI) with El Salvador president Nayib Bukele.

.@CathieDWood & @LafferCenter + Max & Stacy – discuss #Bitcoin &
AI opportunities in #ElSalvador with President @nayibbukele pic.twitter.com/XOwPWoKVFB

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— Max Keiser (@maxkeiser) May 28, 2024

Wood thanked Maxkeiser for this Bitcoin & AI-focused meeting with the Bitcoin bull country’s president. And also explained that El Salvador’s economy is relatively small, with a total value of about $30 billion. The average person earns around $450 each month. President Bukele is aware of the Laffer Curve, which suggests that lowering taxes can sometimes increase government revenue by boosting economic activity. Art Laffer, an economist, sees several opportunities to enhance the progress already made through these tax incentives, and we also see potential for further growth.

Currently, El Salvador's GDP is at a low base, ~$30 billion, and the average income only $450 per month. President Bukele clearly understands the Laffer Curve, and Art Laffer can see many ways to build on the momentum his tax incentives have put in place, as can I!

— Cathie Wood (@CathieDWood) May 28, 2024

Furthermore, Wood said that Bukele’s efforts to push Bitcoin & AI technology use may help the country to achieve 10 times economic growth in the next 5 years. 

Wood noted that Bukele is a highly knowledgeable & vision-driven person. According to Wood, Bukele’s unique quality makes him popular not only in El Salvador but also throughout Latin America, Spain, and Portugal.

Currently, El Salvador holds 5,764.76 BTC and this country has an unrealised profit of 58% which corresponds to $74,892,766 at the current trade price of Bitcoin.

Today (29 May 2024) #ElSalvador holds 5,764 #Bitcoins (BTC) with an unrealised profit of 58%+ (~$74,892,766) pic.twitter.com/SNLtIHTXn6

— Bitcoinik (@Bitcoinikdotcom) May 29, 2024

Read also: AI-created Crypto meme token surges 3,000% in 3 months & hits $638M m-cap 

Ark Invest CEO meets El Salvador president to push more Bitcoin adoption via AI tech

 

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