El Salvador's investment in Bitcoin has led to significant profits, with the country's treasury reaching over $206 million. The President of El Salvador mentioned the profits from various sources like the passport program, local businesses, mining, and government services. Tim Draper believes that if Bitcoin hits $100K, El Salvador could pay off the IMF and become highly attractive for living. The country has reduced income tax rates to 0% for international investments and money transfers to attract global wealth.
El Salvador, the nation led by $BTC-friendly President @nayibbukele, has eliminated income tax on money coming into the country from abroad. @LedesmaLyllah writes. https://t.co/VygBUY5eZr
JUST IN: 🇸🇻 El Salvador drops income tax from 30% to 0% for money transfers and international investments. https://t.co/bheSSI7CzS
President @nayibbukele has reformed El Salvador’s income tax law. The tax rate on international investments & money transfers drops from 30 to 0% Bukele made bitcoin a national currency in 2021, causing foreign promoters of #Bitcoin to move to beach communities in the country https://t.co/KtsobCZXKX
🚨 BREAKING 🚨 🇸🇻 El Salvador's Congress have approved a law to reduce income tax from 30% to 0% for all international investments and money transfers.This is to draw more global wealth to the country. This could mean Bitcoin investors moving to the country for no taxes 🔥 https://t.co/NPQPmOGswO
JUST IN: 🇸🇻 El Salvador voted to drop their income tax from 30% to 0% for money transfers and international investments. https://t.co/2vMmwE5BAG
JUST IN: 🇸🇻 El Salvador's Congress approves a reform to income tax law, reducing rates from 30% to 0% for international investments and money transfers 👀 This move is expected to draw even more global wealth to the country 🙌 https://t.co/auuIfyk6bd
🗞️ El Salvador bags major #bitcoin gains 🗞️ Hong Kong's fresh stablecoin push @jennsanasie has today's top crypto headlines on "CoinDesk Daily" 👇https://t.co/Sq6nTgIomm
Tim #Draper Expects #Bitcoin to Transform El Salvador Into a Rich Country https://t.co/rfwHyiS7JI
#Bitcoin’s 250% rise over the past year has catapulted El Salvador's $BTC treasury to over $206 million as of Tuesday. That's a 69% gain on initial capital so far. https://t.co/iTM5vbgu0x https://t.co/sWkJ59lLUd https://t.co/j7NOuwF1cn
NEW: “🇸🇻 El Salvador will be able to pay off the IMF if #Bitcoin hits 💵 $100K, and never have to talk to them again. They’ll probably be the most attractive country in the world to go live, just because they embraced #Bitcoin,” says billionaire Tim Draper. https://t.co/1PX2PcSbRj
JUST IN: 🇸🇻 El Salvador President says they’re in profit on #Bitcoin revenue from their passport program, local businesses, mining and from government services. https://t.co/AXooQc7id7
El Salvador is now in a $83m profit on their #Bitcoin investment strategy! 🚀 https://t.co/zj6RGn8hjW
El Salvador 🇸🇻 could become the richest country in the world says @TimDraper due to #Bitcoin what do y’all think? 🤔 Watch the full interview on Web3 Deep Dive podcast ➡️ https://t.co/4pD005Aepv Read more about this on @cryptonews https://t.co/Wbp1mEHlbb https://t.co/sNlbqztolU
El Salvador is #Bitcoin Country 🇸🇻🧢🥳🚀 https://t.co/qGygf9j2R1
JUST IN: Tim Draper believes that El Salvador 🇸🇻 could eventually become one of the wealthiest countries in the world thanks to its investment in #Bitcoin. Draper made his statements on a recent episode of the “Web3 Deep Dive” podcast with Rachel Wolfson. https://t.co/G5IPvHWVwR
NEW: 🇸🇻 El Salvador is up $74 million (+60%) on their #Bitcoin holdings 🙌 https://t.co/1C33vqSDTn
El Salvador is on its way to becoming one of the wealthiest countries in the world due to #Bitcoin holdings https://t.co/Wbp1mEHlbb via @cryptonews thanks @JoeNakamoto and others for comments!