Cathie Wood, the CEO of ARK Invest, has outlined unprecedented economic prospects for El Salvador. The country is set to clock a tenfold rise in GDP to $300 billion by 2029—all under the new, ambitious plans of President Nayib Bukele. That would be driven by the country’s embrace of Bitcoin and artificial intelligence, said Wood. Since it became a country where Bitcoin is legal tender and has pursued friendly tech policies, among other things, El Salvador’s GDP has risen by 30% to $32.4 billion in 2022.

Wood, a figure who’s become one of the highest-profile supporters of Bitcoin and El Salvador’s recent movements, just got the chance to meet with Bukele to discuss how to capitalize on this momentum of growth alongside economic experts and Bitcoin proponents. Well-known people like Bitcoin advisor Max Keiser and economist Arthur Laffer were part of the group. El Salvador is also home to one of the largest Bitcoin reserves, valued at around $396.2 million, and is now up 58.6% from when it was first purchased.

While there have been some issues with on-the-ground popularity, a recent increase in merchant acceptance from some of the largest brands in big business has upped how much Bitcoin is in use there. And, as the country continues to develop a more vibrant economic outlook and in more aggressive interactions with corporations—like its recent $500 million deal with Google—wider Bitcoin adoption becomes more feasible.

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