South Carolina treasurer goes on Bitcoin ‘fact-finding trip’ to El Salvador

Curtis Loftis was the treasurer of the U.S. State of South Carolina and spent five days in El Salvador as part a “exploratory trip” to learn more about cryptocurrencies.

Loftis was announced as part of a delegation that included South Carolina business leaders, rural officials and others “interested” in expanding cryptocurrency and blockchain technology. The delegation met with officials from El Salvador to learn more about the country’s efforts in adopting Bitcoin (BTC) according to an Oct. 5 announcement. Since September 2021, El Salvador’s Bitcoin Law was in effect, the cryptocurrency has been legal tender in Central America alongside the U.S. dollars.

Loftis claimed that he paid for the trip with his own money. This included discussions about Bitcoin with government officials as well as exploring the country’s financial literacy education programs. The treasurer said that the South Carolina legislature was responsible for the trip to El Salvador. It explored ways to encourage adoption of blockchain and crypto in the state.

“While there are many variables to consider, I find it exciting to think about the possibilities of how South Carolinians might also benefit using Bitcoin,” stated Dennis Fassuliotis (president of the South Carolina Emerging Technologies Association), who was also present at the trip.

S.C. Columbia Treasurer and Bitcoin supporter, Curtis M. Loftis, visited El Salvador and witnessed the positive and transformational impact of BTC – El Salvador in English
— Bitcoin Beach (@Bitcoinbeach) October 4, 2022

Similar: Grassroots programs bring Bitcoin education to communities across America

According to reports, around 20% of Salvadorans use Bitcoin through Chivo wallets. El Salvador President Nayib Bukele stated that the government had 2,381 BTC at July. The country’s total Bitcoin investments have dropped by more than 55% in the past year, to approximately $48 million as of the publication.

Cointelegraph reached Curtis Loftis but didn’t receive a reply at the time of publication. This story will be updated.

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