Cathie Wood Says El Salvador's Bitcoin and AI Plans Could Increase GDP Tenfold in Five Years

Ark Invest CEO Cathie Wood said El Salvador's focus on bitcoin and artificial intelligence (ai) could see its GDP increase tenfold by 2029.

Wood made these comments after meeting with President Bukele last week to discuss leveraging cryptocurrencies and artificial intelligence for educational and economic reforms.

“President Bukele's determination to turn El Salvador into an oasis for the bitcoin and ai communities – two of the biggest economic and technological revolutions in history – is why I believe its real GDP could increase 10-fold over the next few years. next five years.” she said. “Look at this leader and his country!”

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”12.146974063401″>

Thank you twitter.com/maxkeiser?ref_src=twsrc%5Etfw”>@maxkeiser and Stacy for introducing Art Laffer, twitter.com/dpuellARK?ref_src=twsrc%5Etfw”>@dpuellARK, Marc Seal and I to President Bukele last week. exploitation twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin and twitter.com/hashtag/ai?src=hash&ref_src=twsrc%5Etfw”>#ai To boost his economic and educational reforms, the President could multiply El Salvador's GDP by 10 during his next five-year term. https://t.co/7vjYwJ8mLe

—Cathie Wood (@CathieDWood) twitter.com/CathieDWood/status/1795602597522616559?ref_src=twsrc%5Etfw”>May 28, 2024

Cathie Wood predicts that El Salvador's GDP will reach 300 billion dollars

Topics discussed at the meeting were bitcoin integration into ai, capital markets, and tax policies.

If the plans are successful, it is likely that El Salvador's GDP could grow from the current $30 billion to $300 billion over the next five years, Wood said.

Bukele has paid close attention to technology since his first term as president of El Salvador. He began by making bitcoin legal tender before offering tax incentives to technological innovations and foreign investments.

Its success in the technology space has also drew attention from other Latin American countries such as Argentina.

However, bitcoin adoption in the country remains low due to a large population that is less tech-savvy.

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