Ark Investment CEO Cathie Wood and El Salvador’s President Nayib Bukele Discuss Expanding Bitcoin Use in the Country with AI

Cathie Wood, CEO of Ark Investment, recently met with El Salvador’s President Nayib Bukele to explore broader applications of Bitcoin in the country, leveraging innovative adoption of Artificial Intelligence (AI). El Salvador currently holds 5,764.76 BTC, with an unrealized profit of 58%, amounting to $74,892,766 at the current Bitcoin price.

Ark Investment is known for its investments in assets closely linked to the Bitcoin and crypto sectors. Wood, a staunch Bitcoin advocate, engaged in discussions with Bukele about the potential for Bitcoin and AI to drive economic growth.

On May 29, 2024, Max Keiser, a well-known Bitcoin proponent and advisor to President Bukele, revealed that Wood and Bukele had a productive conversation focusing on Bitcoin and AI. Wood expressed gratitude to Keiser for facilitating the meeting and highlighted the economic context of El Salvador, which has a GDP of approximately $30 billion and an average monthly income of $450 per person. She noted that Bukele understands the Laffer Curve, an economic theory suggesting that reducing taxes can boost government revenue by stimulating economic activity. Economist Art Laffer also sees significant opportunities to build on the progress made through these tax incentives.

Wood emphasized that Bukele’s initiatives in promoting Bitcoin and AI could potentially increase El Salvador’s economic growth tenfold within the next five years. She praised Bukele for his knowledge and vision, qualities that have earned him popularity not only in El Salvador but also across Latin America, Spain, and Portugal.

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