El Salvador

As the market is turning bearish and the Bitcoin prices are falling the president of El Salvador, Nayib Bukele, decided to address concerns with some advice. It was Nayib Bukele who pushed for giving Bitcoin (BTC) the status of a legal…
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El Salvador President Nayib Bukele has tried to reassure crypto investors that things may not be as bad as they seem. The Bitcoin enthusiast advised people to stop looking at the charts and to enjoy life instead. Bukele took to Twitter to…
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Taking advantage of the crypto market crash, El Salvador has added 500 Bitcoin - worth around $15.5 million - to its holdings. This was revealed by President Nayib Bukele in a tweet on Monday. The Treasury bought the Bitcoin when it was…
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Not too long ago, El Salvador adopted Bitcoin as a form of legal currency. This caused some consternation in the US and three US senators proposed specific action in the form of a bill. The bill will look at how El Salvador’s Laws work…
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Despite the big push and a large fraction of people downloading Chivo Wallet, usage of Bitcoin for everyday transactions is low in El Salvador. The US National Bureau of Economic Research says this is concentrated among the banked,…
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Fitch is a well-known credit ratings firm and uses multiple factors like debt load and interest changes in a country to rate its creditworthiness. A new report issued by Fitch indicates that El Salvador has been downgraded to ‘CCC’ ratings,…
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Stubbornly chasing a Bitcoin-based solution has cost El Salvador dearly, says Carlos Acevedo, a former president of the Central Reserve Bank of El Salvador who served under Mauricio Funes from 2019 to 2013. He highlighted that it has killed…
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El Salvador has postponed its much-awaited bitcoin bond as it wants the market conditions to improve. The Nayib Bukele-led government had plans to issue the $1 billion bitcoin bonds to investors between the 15th-20th of March. This has also…
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All eyes are on El Salvador’s bitcoin bonds this week as the Latin American country hopes to raise $1 billion. Revenue from the bonds will be used to buy more BTC. It will also be used to fund El Salvador’s ambitious “Bitcoin City” near the…
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El Salvador is seemingly embarking on a path of economic transformation. El Salvador’s president Nayib Bukele has announced that the country will offer citizenship to any person who invests in the country. Bukele is already famous for…
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