{"id":527112,"date":"2024-05-29T07:24:53","date_gmt":"2024-05-29T07:24:53","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=527112"},"modified":"2024-05-29T12:26:06","modified_gmt":"2024-05-29T12:26:06","slug":"cathie-wood-says-el-salvadors-bitcoin-and-ai-plans-could-increase-gdp-tenfold-in-five-years","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cathie-wood-says-el-salvadors-bitcoin-and-ai-plans-could-increase-gdp-tenfold-in-five-years","title":{"rendered":"Cathie Wood Says El Salvador\u2019s Bitcoin And AI Plans Could Increase GDP Tenfold In Five Years"},"content":{"rendered":"<p>Ark Invest CEO Cathie Wood said El Salvador&rsquo;s focus on Bitcoin and artificial intelligence (AI) could see its GDP soar tenfold by 2029.<\/p>\n<p>Wood made the comments after meeting President Bukele last week to discuss harnessing crypto and AI for education and economic reforms.<\/p>\n<p>&ldquo;President Bukele&rsquo;s determination to turn El Salvador into an oasis for the bitcoin and AI communities &ndash; two of the biggest economic and technology revolutions in history &ndash; is the reason I believe that its real GDP could scale 10-fold during the next five year,&rdquo; she said. &ldquo;Watch this leader and his country!&rdquo;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Thank you <a href=\"https:\/\/twitter.com\/maxkeiser?ref_src=twsrc%5Etfw\">@maxkeiser<\/a> and Stacy for introducing Art Laffer, <a href=\"https:\/\/twitter.com\/dpuellARK?ref_src=twsrc%5Etfw\">@dpuellARK<\/a>, Marc Seal, and me to President Bukele last week. Harnessing <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/AI?src=hash&amp;ref_src=twsrc%5Etfw\">#AI<\/a> to turbocharge his economic and education reforms, the President could scale El Salvador's GDP 10-fold during his next 5-year term. <a href=\"https:\/\/t.co\/7vjYwJ8mLe\">https:\/\/t.co\/7vjYwJ8mLe<\/a><\/p>\n<p>&mdash; Cathie Wood (@CathieDWood) <a href=\"https:\/\/twitter.com\/CathieDWood\/status\/1795602597522616559?ref_src=twsrc%5Etfw\">May 28, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Cathie Wood Sees El Salvador&rsquo;s GDP Hitting $300 Billion<\/h2>\n<p>The issues discussed in the meeting were integrating Bitcoin into AI, capital markets and tax policies.<\/p>\n<p>If the plans are successful, it is likely that El Salvador&rsquo;s GDP could grow from the current $30 billion to $300 billion in the next five years, Wood said.<\/p>\n<p>Bukele has paid much attention to technology since his first tenure as President of El Salvador. He began by making Bitcoin legal tender before offering <a href=\"https:\/\/insidebitcoins.com\/news\/el-salvador-can-become-singapore-of-the-americas-says-fund-management-giant-vaneck\">tax incentives<\/a> on technology innovations and foreign investments.<\/p>\n<p>Its success in the tech space has also <a href=\"https:\/\/www.argentina.gob.ar\/noticias\/reunion-con-la-comision-nacional-de-activos-digitales-cnad-de-el-salvador-en-cnv\" target=\"_blank\" rel=\"noopener\">drawn attention<\/a> from other Latin American countries such as Argentina.<\/p>\n<p>Nevertheless, Bitcoin adoption in the country remains low due to a large population that is less knowledgeable on tech.<\/p>\n<h3>Also Read:<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/volatility-shares-to-launch-first-leveraged-ethereum-etf-in-us-next-month\">Volatility Shares To Launch First Leveraged Ethereum ETF In US Next Month<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/shiba-inu-price-soars-17-as-holders-pivot-to-new-ico-aiming-for-1000-gains\">Shiba Inu Price Soars 17% As Holders Pivot To New ICO Aiming For 1,000% Gains<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/fastest-growing-ai-crypto-presale-now-surpassed-3-million-next-100x-meme-coin\">Fastest-Growing AI Crypto Presale Now Surpassed $3 Million &ndash; 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Wood made <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/in-content-providers\/a-default-box\" title=\"A Default Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1911,"featured_media":403021,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[7596],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cathie Wood Says El Salvador\u2019s Bitcoin And AI Plans Could Increase GDP Tenfold In Five Years - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Ark Invest CEO Cathie Wood said El Salvador\u2019s focus on Bitcoin and artificial intelligence (AI) could see its GDP soar tenfold by 2029. 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