**Response to @maxkeiser:**
Max Keiser and Stacy Herbert launch "El Zonte Capital", @ElZonteCapital (
https://nitter.moomoo.me/ElZonteCapital) an investment fund for El Salvador to be a benchmark for hyperbitcoinization.
The fund will have an initial capital of $5 million and takes the El Zonte beach experience as a reference, positioning it as an example of the benefits of hyperbitcoinization.
Financial journalists and crypto-investors Max Keiser and Stacy Herbert have launched an investment fund with which they seek to turn El Salvador into the heart of hyperbitcoinization for the entire world, as confirmed by Bitcoin Magazine this morning. This fund has been named “El Zonte Capital” and takes the El Zonte beach experience as a reference.
According to Bitcoin Magazine, Keiser and Herbert established this investment fund with the purpose of giving a new impetus to the adoption of bitcoin in El Salvador and directing the country towards hyperbitcoinization that is an example for other countries in the world. In addition, this fund will be available to those companies in the country that seek to adopt an economy based entirely on bitcoin.
Bitcoin Magazine notes that El Zonte Capital will have an initial funding of $5 million, with Keiser and Herbert as the firm's general partners. Along with them will also be the founder of Swan Bitcoin and Bitcoiner Ventures, Cory Klippsten, while the advisory board of El Zonce Capital will also include several bitcoiners from around the world.
El Zonte Capital is a fund that will work to develop hyperbitcoinization in El Salvador, focusing on the empowerment of companies that seek to bring their economies to a Lightning system, with payments and the use of bitcoin as a savings technology. In addition, they will also provide their support for the legislation of bitcoin operations in El Salvador, in order to have an adequate legal framework.
In an interview with Bitcoin Magazine, Keiser pointed out that the key to a healthy hyperbitcoinization lies in access to capital, the presence of entrepreneurs and the improvement of educational centers, three things that El Zonte Capital will seek to maximize in El Salvador, above all, the capital attraction and infrastructure investment.
In the same way, Keiser pointed out that the creation of El Zonte Capital is based on the experience they have been able to learn during their stay at El Zonte beach, in the department of La Libertad, the first place in El Salvador that adopted the use of bitcoin and converted it is its main currency for its business operations.
For her part, Herbert pointed out that they have lived with the people on El Zonte beach and that experience has confirmed the benefits of hyperbitcoinization and the possibilities that would open up for economies like El Salvador. “We have (the El Zonte merchants) been asking all of them difficult and deep questions and discussing their plans at length. This is the place to be," Herbert said.
For his part, Klippsten confirmed that El Zonte Capital will also work to maximize the potential of companies in El Salvador and pointed out that they hope to turn the country not only into an attractive point for foreign investment, but also into an exporter of its innovation, from the implementation of a hyperbitcoinized financial system.
“We hope to facilitate a two-way exchange of ideas and resources, with companies from around the world bringing their products and services to El Salvador, and companies based in El Salvador exporting their innovation to the rest of the world,” he noted.
What is hyperbitcoinization?
Hyperbitcoinization, as detailed by Bitcoin Magazine, is the idea of making bitcoin the default value system in the world, that is, a new financial system that represents the death of fiat money and establishes bitcoin (or cryptocurrencies) as the basis of this new economy.
https://nitter.moomoo.me/maxkeiser/status/1671610203026980864#m
