CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » Crypto News » Max Keiser in El Salvador: Bitcoin As Perfect Money Creates Confidence in Leaders like President Bukele

Max Keiser in El Salvador: Bitcoin As Perfect Money Creates Confidence in Leaders like President Bukele

Author: Jordan Lyanchev

Last Updated Nov 23, 2021 @ 15:35

Max Keiser explains how the “perfect money,” which bitcoin represents, can help boost the economic future of El Salvador and the rest of the world.

Getting your audio player ready...

El Salvador continues to create history with its bitcoin adoption, with the latest initiative being the announcement of an entire city focused on the primary cryptocurrency.

The nation plans to put this plan in the works through mining-backed volcano bonds worth in total $1 billion. While this may sound groundbreaking and surprising to some, one person – Max Keiser – was actually the one to pitch the idea first months ago.

El Salvador’s Bitcoin Steps

It was June 2021 when the small Central American country shocked the world by announcing plans to adopt bitcoin as a legal tender. Somewhat expectedly, global organizations like the IMF, with which El Salvador was in discussions for a near $1 billion program, criticized President Nayib Bukele and his unorthodox approach.

Some locals also found issues with the proposed law and took it to the streets to protest against it. However, President Bukele and his administration didn’t back off, and bitcoin indeed became a legal currency within the nation as of early September 2021.

El Salvador started buying bitcoin, especially during some price dips, began mining it by using excess volcano power, and plans to utilize the proceeds from BTC’s appreciating price to build pet hospitals and schools.

While all of this might sound like a lot, keeping in mind that they have transpired in just a few months, the country took it a step further over the weekend by announcing a Bitcoin City.

As President Bukele explained it, the city will be circular and will “have everything,” from an airport and port to residential and commercial areas. There will be no tax, except for value-added tax (VAT).

The financing will come from $1 billion volcano-backed bonds, 50% of which the country will use to buy more BTC, and the remaining will go for local infrastructure and mining. After five years, the government will begin selling BTC gradually, which should increase the annual percentage yield for investors from 6.5% to somewhere in the low triple-digits, at least according to Blockstream’s Samson Mow.

Keiser’s Idea?

The idea of the volcano-backed bitcoin bonds is certainty a world-first, and it can trace its origins to a June Twitter post from the popular BTC proponent – Max Keiser.

Back when the country had just announced its initial intentions to legalize the cryptocurrency, the Keiser Report host wrote, “I’m sure Bitcoiners can arrange a $1 billion lending facility stop-gap for El Salvador,” so the country could stop relying on the IMF (said in other words, of course).

Now that this idea is about to become a reality, many cryptocurrency insiders and even President Bukele himself outlined Keiser and his contribution.

Special thanks to @maxkeiser for inspiring #VolcanoBonds 🌋🇸🇻

— Nayib Bukele 🇸🇻 (@nayibbukele) November 21, 2021

While explaining his vision, Keiser told CryptoPotato that since bitcoin operates as “perfect money,” which is “unconfiscatable, immutable, and uncensorable,” it creates confidence in leaders like President Bukele to “dream big.”

He described El Salvador as a “wildly energetic” country where the “surf, sun, jungle, and volcanoes create endless possibilities.”

“When you plug a visionary president’s dream into the cosmic power of volcanoes to bring the perfect money of Bitcoin to millions of fearless people – the future gets rewritten in the image of Bitcoin, and the future is relentlessly optimistic. Not just for El Salvador, but for the whole world.” – Keiser concluded.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Tags: Bitcoin El Salvador Max Keiser
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Jordan Lyanchev
More posts by this author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Farm Airdrops on Hyperliquid (HYPE): The Complete Guide to Free Money This Crypto Cycle

How to Farm Airdrops on Hyperliquid (HYPE): The Complete Guide to Free Money This Crypto Cycle

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

11 Best Meme Coins to Watch in June 2025

11 Best Meme Coins to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

11 Best Crypto Presales to Consider in June 2025

11 Best Crypto Presales to Consider in June 2025

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!