El Salvador, the pioneering country that approved Bitcoin as legal tender, has consistently adhered to its HODL strategy, even amidst the market crash from two years ago and the massive rise toward new ATH this week. The country initiated its Bitcoin purchases in September 2021, when Bitcoin was valued at $51,769. El Salvador Boasts Huge...Read More
Results released so far show that El Salvador’s incumbent President Nayib Bukele marked a landslide victory, indicating that he could be re-elected for a second term. Bukele’s administration cracked down on gang violence in El Salvador and made history with the adoption of Bitcoin as a legal tender in the country. Another Five Years for...Read More
El Salvador’s Vice President, Felix Ulloa, affirmed on Wednesday that Bitcoin would continue to be legal tender in the country during President Nayib Bukele’s second term. The announcement follows the IMF’s request to reevaluate the cryptocurrency as legal tender during ongoing negotiations for a substantial billion-dollar loan. El Salvador’s Bitcoin Commitment Unwavering As El Salvador...Read More
Bitfinex, one of the oldest cryptocurrency exchanges, has announced the launch of a securities trading platform in El Salvador, the first country to recognize bitcoin (BTC) as legal tender. According to a press release seen by CryptoPotato, Bitfinex Securities El Salvador will be the Central American country’s first registered and licensed digital assets service provider....Read More
El Salvador made history by becoming the first nation to embrace Bitcoin as a legal tender more than two years ago. Although the country’s financial outlook has seen positive developments, a recent study carried out by José Simeón Cañas Central American University unveiled a mixed sentiment regarding the correlation between the adoption of Bitcoin and...Read More
El Salvador’s Bitcoin-backed bonds – Volcano Bonds – that the Latin American nation wants to use to pay sovereign debt and fund the construction of the proposed Bitcoin City is now one step closer to becoming a reality. The nation’s Digital Assets Commission has reportedly given the green light to the program, and it is...Read More
The government of El Salvador has teamed up with stablecoin issuer Tether to launch the “Adopting El Salvador Freedom Visa Program,” designed to benefit the economy, the culture, and the people of the nation. This new citizenship-by-investment initiative offers a residency visa and a route to citizenship for 1,000 individuals who are prepared to make...Read More
El Salvador President Nayib Bukele said the country’s Bitcoin (BTC) investment is in profit as the price of the asset crossed the $40,000 mark for the first time in almost two years. The Central American country started buying BTC in September 2021, with its stash currently worth over $130 million. El Salvador BTC Portfolio Sees...Read More
It’s official. Nayib Bukele will be running for another term as El Salvador’s President next year. The popular reformer, anti-violence crusader, and Bitcoin advocate needed an election tribunal’s go-ahead to run again. Tribunal Greenlights Bukele Reelection Bid Under El Salvador’s constitution, a President is limited to a 5-year term. Moreover, consecutive terms are also banned...Read More
Bonds issued by El Salvador, the first country in the world to establish Bitcoin (BTC) as legal tender, are up 60% in value this year – rivaling Bitcoin’s 80% gains. The sudden demand for the country’s national debt represents a massive sentiment shift around its financial position. Yields for El Salvador’s 10-year debt ran as...Read More
Recent survey conducted by TResearch estimated that nearly 93% of Salvadorans approve of the leadership of President Nayib Bukele. This has been the highest level of support for the political leader who stepped into his role in 2019. Bukele is a well-known figure across the cryptocurrency community, mainly due to his pro-Bitcoin stance. Under his...Read More
An El Salvador-based Bitcoin firm has begun the first phase of a planned $1 billion investment into sustainably powered digital asset mining in the country. The investment includes backing from Tether – the world’s largest stablecoin provider – which revealed last month that it was breaking into mining in Uruguay. The firm behind the project,...Read More
El Salvador President Nayib Bukele has onboarded Saiffedean Ammous – author of The Bitcoin Standard – as an Economic Advisor to the National Bitcoin Office of El Salvador. In his role, the author will “advise on matters related to various economic policies,” while supporting Bukele’s policy of “economic liberty and bitcoin,” according to a Bitcoin...Read More
El Salvador’s Central Bank (BCR) informed today that it has registered 80 Bitcoin service providers to operate legally in the country. Among the service providers registered with the BCR are: CHIVO, S.A. DE C.V., the company responsible for the government’s official wallet, Chivo; the Bitcoin custodians Paxos, 503 Escrow, Bitcapital, the startup Niu, and many...Read More
Remittances in Bitcoin and other cryptocurrencies sent to El Salvador fell 17.8% during the first two months of 2023 compared to 2022, according to recent data published by the country’s Central Reserve Bank (BCR) reported by Agencia EFE. As per the statement, El Salvador received a total of $15.98 million in remittances via cryptocurrencies. This...Read More
Bitfinex became the first cryptocurrency exchange to be registered as a Digital Asset Service Provider (DASP) by the regulators of El Salvador. The Latin American country is a pioneer in the industry, embracing bitcoin as a legal tender in 2021. Under the rule of President Nayib Bukele, it purchased amounts of the primary cryptocurrency on...Read More
A survey carried out by one of the leading daily newspapers in El Salvador – La Prensa Grafica – determined that President Nayib Bukele has the support of 91% of the locals. The media outlet is known as an opposition to the ongoing political regime in the Central American country, prompting the leader to doubt...Read More
El Salvador’s government has launched another initiative repping its support for Bitcoin adoption and development of the broader network.This time, it’s a Bitcoin/ lightning developer training program funded by VC firm Fulgur and stablecoin issuer Tether. As announced by El Salvador’s Bitcoin Office on Wednesday, the “CUBO+” program is an advanced Bitcoin engineering program that...Read More
Milena Mayorga – ambassador of El Salvador to the United States – said the Salvadoran authorities might open a bitcoin embassy in Texas. The central American nation has already introduced a BTC office in the city of Lugano, Switzerland. The Second BTC Embassy Mayorga held a meeting with Jose “Joe” Esparza (Texas Deputy Secretary of...Read More
The LOOP Design Awards reportedly recognized the Bitcoin City of El Salvador’s government as one of the most outstanding projects in interior design and architecture. When completed, the metropolis will use the energy released from the Conchagua volcano to power itself and BTC as its currency. Bukele’s Dream City Gets an Award According to recent coverage,...Read More
Nayib Bukele – the President of El Salvador – revealed that the government repaid its $800 million bond plus interest the same day it was set to mature. Settling the bond comes despite the pessimistic views that the nation will experience financial challenges due to its bitcoin forays. ‘We Just Paid in Full’ El Salvador’s...Read More
One of the poorest countries – the Central African Republic (CAR) – formed a team of 15 agencies, whose responsibility will be to draft a “comprehensive” cryptocurrency bill. The nation made the headlines last year, becoming the second after El Salvador to embrace bitcoin as a legal tender. Another Crypto Step Faustin-Archange Touadéra – President...Read More
El Salvador faced a tough year after making Bitcoin legal tender in the country. But the country’s Legislative Assembly voted to pass a historic – Digital Asset Issuance legislation – that is expected to set the stage for the issuing of President Nayib Bukele’s bitcoin bonds, aka, the Volcano Bonds. The new law will focus...Read More
Sitiveni Rabuka became Fiji’s 12th Prime Minister after winning the country’s elections earlier this month. The 74-year-old, commonly known by his nickname “Rambo,” is a proponent of bitcoin. Former member of Parliament of Tonga Lord Fusitu’a applauded the Rabuka for his success, supporting the idea of Fiji and Tonga embracing the primary cryptocurrency as legal...Read More
The number of bitcoin automated teller machines (ATMs) has surged in accordance with the development of the cryptocurrency industry. The first such machine saw the light of day in October 2013. Needless to say, the industry has expanded by leaps and bounds since then, propelling massive interest and, in turn, more ATMs. Currently, there are...Read More
El Salvador became the first country in the world to adopt Bitcoin as a legal tender. Fast forward to this year, the crisis worsened in the already battered crypto industry. But President Nayib Bukele plans on doubling down further. After pledging that the government would purchase one Bitcoin every day going forward, despite the meltdown,...Read More
El Salvador’s government doubled down on its crypto initiatives by creating a National Bitcoin Office (ONBTC) that will oversee all local projects related to the asset. The new agency will also be able to cooperate with other countries in matters associated with BTC. Enter ONBTC Despite the prolonged bear market, El Salvador’s authorities seem determined...Read More
The government of El Salvador presented a bill that could set comprehensive rules on the local crypto sector and regulate the operations of all digital asset providers in the country. The ruling body is also one step closer to issuing blockchain bonds that could aid the development of certain BTC endeavors in the Central American...Read More
El Salvador’s president took it to Twitter to announce that the country will resume its BTC buying spree as of tomorrow. Interestingly, Tron’s Justin Sun quickly followed up, saying his blockchain project will do the same. Although 2022 has been a rough year for the cryptocurrency market, with many inside and outside factors pushing prices...Read More
The President of El Salvador – Nayib Bukele – reportedly dismissed the arising rumors that his country holds its bitcoin stash on the battered cryptocurrency exchange FTX. The information was revealed by Binance’s CEO – Changpeng Zhao – who said he discussed the matter with the political leader. The Central American nation became the first...Read More
