“Cathie Wood, Founder of Ark Investment, Foresees 10-Fold GDP Growth in the Next Five Years with El Salvador’s Bitcoin and AI Initiatives”

"Cathie Wood, Founder of Ark Investment, Foresees 10-Fold GDP Growth in the Next Five Years with El Salvador's Bitcoin and AI Initiatives"

"Cathie Wood, Founder of Ark Investment, Foresees 10-Fold GDP Growth in the Next Five Years with El Salvador's Bitcoin and AI Initiatives"

Cathie Wood, the founder of asset management company ARK Invest, stated last week after meeting with Salvadoran President Nayib Bukele that by utilizing Bitcoin and artificial intelligence to drive its economic and educational reforms, the president may be able to increase El Salvador’s GDP (Gross Domestic Product) by tenfold within the next five years.
Wood wrote on the X platform, “The integration of Bitcoin into the capital market, AI, and tax policies were the main topics discussed by Wood and Bukele.” Bitcoin advocates Stacy Herbert, American economist Arthur Laffer, and ARK Invest research assistant Marc Seal also attended the meeting.
Max Keiser, who provided advice to Bukele on Bitcoin-related matters, stated that Wood used numbers to explain how El Salvador could increase its current GDP of approximately $30 billion by tenfold to reach $300 billion in the next five years.
Since Bukele took office as president, El Salvador has designated Bitcoin as legal tender, abolished taxes related to technological innovation, and eliminated income taxes on foreign investments and remittances in March.
According to the Salvadoran Bitcoin Treasury Information website, as of the time of this article’s publication, the country currently holds 5,764 Bitcoins, valued at approximately $391 million. According to the unofficial statistics from the Nayib Bukele Portfolio Tracker, El Salvador’s Bitcoin investment strategy has seen a floating profit of about 57%.
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