Nayib Bukele, who made history last year by becoming the first President to adopt bitcoin as legal tender, believes two more countries will follow this example in 2022. Additionally, he predicted a price tag of $100,000 for the primary cryptocurrency. It’s safe to say that El Salvador is the most open country in terms of...Read More
El Salvador’s pro-bitcoin president updated earlier today that the country has reacted to the recent price crash by purchasing 150 more coins at an average price of just over $48,500. It’s safe to say that El Salvador is the most bullish country on bitcoin as it legalized the primary cryptocurrency earlier this year. Since then,...Read More
On Dec. 1, the outspoken Nayib Bukele responded to a Bloomberg report detailing Federal Reserve chair Jerome Powell’s comments on inflation. Interestingly, El Salvador’s president asked the Fed chief to stop printing so much money out of thin air. Inflation a Growing Concern A fresh round of economic anguish has been ignited by last week’s...Read More
Nayib Bukele – President of El Salvador – recently announced that his country has purchased another 100 Bitcoin. That’s about $5.4 million worth of the primary cryptocurrency, at today’s prices. El Salvador Continues to HODL As always, the “CEO” of El Salvador (as reads his bio) casually announced the purchase in a tweet on Friday....Read More
El Salvador continues to create history with its bitcoin adoption, with the latest initiative being the announcement of an entire city focused on the primary cryptocurrency. The nation plans to put this plan in the works through mining-backed volcano bonds worth in total $1 billion. While this may sound groundbreaking and surprising to some, one...Read More
Just months after adopting BTC as legal tender, the small Central American country plans to create a Bitcoin City with the help of Blockstream and Bitfinex. Separately, the country said it will buy $500 million more of BTC. Bitcoin City in El Salvador The country made the news earlier this year by indicating that it...Read More
A month after the Bitcoin law went into effect in the central American nation of El Salvador, interest in the cryptocurrency has continued to soar as a greater percentage of residents are converting their dollars into BTC. In a tweet made by the country’s president, Nayib Bukele, El Salvador’s in-house crypto wallet app – Chivo...Read More
Ethereum co-founder Vitalik Buterin spoke out against President Nayib Bukele’s compulsory bitcoin usage for merchants and businesses, saying it was against cryptocurrency’s “ideals of freedom.” Buterin commented in response to a Reddit article titled “Unpopular opinion: El Salvador President Mr. Nayab (Nayib) Bukele should not be praised by Crypto community.” The Ethereum co-founder did not...Read More
Nayib Bukele – president of El Salvador – recently took to Twitter with some mining numbers. It appears that the country’s developing volcanic mining facility has produced its first Bitcoin. Volcanic Bitcoin As revealed by Bukele earlier today, the gains produced by the volcano are still small. However, the president still seemed quite enthusiastic to...Read More
El Salvador’s state-owned digital wallet company “Chivo” will be granting citizens a discount on fuel payments. This provides greater incentives for citizens to use Bitcoin as a medium of exchange. Chivo Partners With Major Gas Companies Nayib Bukele – President of El Salvador – announced the new benefit yesterday over Twitter. The reveal was part...Read More
In just three weeks, roughly one-third of El Salvador’s population has started to employ the Bitcoin wallet Chivo actively. As such, the country’s president updated that more people will soon be using the app than they have bank accounts in all local banking organizations combined. The smallest and most densely populated Central American country made...Read More
The first nation to legally adopt bitcoin now owns 700 coins after a new purchase, updated the president of the country. This has become another “buy the dip” moment, as BTC’s price dropped to $45,000. El Salvador’s president – Nayib Bukele – took it to Twitter on September 20th to inform that the nation has...Read More
El Salvador’s President Nayib Bukele is looking to attract foreign capital to boost the Bitcoin industry in his country, especially after the controversial path he has gone through to get the cryptocurrency adopted as legal tender. A supposedly recent executive decision could be very favorable for bitcoiners in El Salvador… as long as they’re foreigners....Read More
It goes without saying that this has been one of the most important and also exciting weeks for Bitcoin, in general. The reason for which it was important is that El Salvador officially became the very first country in the world to formally recognize Bitcoin as a legal tender. In other words, no one is...Read More
The use of Bitcoin in El Salvador has not had the best of starts. Still, financial institutions are already doing their best to comply with the law. Bancoagrícola, the country’s largest financial institution, is among the first banks to include Bitcoin-compatible technology solutions and is already adapting its infrastructure to offer Bitcoin services thanks to...Read More
El Salvador made history earlier this week when it became the first country to officially accept Bitcoin as a legal tender. While the community rejoiced about the significance of the news, Fidelity’s Director of Global Macro – Jurrien Timmer – said the move had been overplayed. BTC Adoption in El Salvador is Overplayed Three months...Read More
El Salvador officially became the very first country in the world to formally recognize Bitcoin as a legal tender, essentially making it illegal for anyone to refuse to accept BTC as payment. Speaking on the matter and congratulating the entire community, Charles Hoskinson said that he thinks many other nations will follow in these footsteps....Read More
President Nayib Bukele announced the milestone on Twitter, telling followers his country “just bought its first 200 coins.” Bukele noted the Central American nation will be buying more bitcoin as the deadline approaches to make El Salvador the first nation to officially recognize a cryptocurrency as legal tender. The president tweeted early Monday afternoon: El...Read More
With just 5 days to go before El Salvador passes its controversial Bitcoin law, there is still resistance to it, according to a recent survey. A poll by the José Simeón Cañas Central American University (UCA) has revealed that 7 out of 10 El Salvadorans would like lawmakers to repeal the Bitcoin legislation that will...Read More
The government of El Salvador voted in favor of creating a $150 million Bitcoin Trust. Its role: to convert BTC to USD so the local population can balance their cryptocurrency exposure. The initiative comes less than a week before the Latin American country starts using bitcoin as legal tender. Getting Ready for The BTC Adoption...Read More
El Salvador will, in ten days, adopt Bitcoin as an official currency. It’s making massive investments in projects to develop end-user products to hold and spend bitcoin. The opportunities of this venture are enormous, though some warn there are risks. El Salvadorians Will Soon Find Imports Attractive Because Bitcoin is a deflationary cryptocurrency, and the...Read More
After El Salvador made history earlier this year by accepting bitcoin as a legal tender, the number of countries planning to mimic the move continues to grow. A recent report showed that Cuba’s Central Bank wants to implement rules enabling the nation to utilize digital assets legally. CryptoPotato reported in May this year when Cuba’s...Read More
The President of El Salvador Nayib Bukele has revealed the structure for the upcoming implementation of the Bitcoin Law on September 7th, with the Chivo wallet app also available for download on the same day. Chivo Wallet App Comes With Zero Commission In a tweet thread on August 23rd, President Nayib Bukele said that the...Read More
More updates coming from Paraguay in terms of its possible crypto adoption indicated that the nation is actually looking for regulation instead of making BTC a legal tender. Prominent economist and cryptocurrency basher Steve Hanke was quick to applaud the reversal. Paraguay: Regulations Not Legal Tender June became a historic month for the primary cryptocurrency...Read More
Unfortunately, it was another challenging week in the cryptocurrency market, though this can only be said about the developments in terms of price. Elsewhere – adoption seems to be booming, especially when it comes to Bitcoin. Starting off with the price – bitcoin is currently trading at around $33,000, down about 13% in the past...Read More
A few years after banning the usage of digital assets within its borders, Tanzania is heading towards a full 180-turn. The nation’s central bank asserted today that it has begun working on a recent directive from the President to adopt cryptocurrencies. CryptoPotato reported a few weeks back when Tanzania’s President – Samia Suluhu Hassan –...Read More
Paraguay’s Deputy of the Nation, Carlos Antonio Rejala Helman, has confirmed that new legislation in regards to Bitcoin will arrive in July. This comes amid growing adoption in Latin America led by El Salvador, which could be followed by Panama as well. CryptoPotato reported last week when Rejala Helman said his country planned to start...Read More
On Wednesday, a World Bank spokesperson stated that they are committed to helping El Salvador in numerous ways including currency transparency and regulatory processes for its Bitcoin adoption plan. However, the international financial institution was not keen on the Bitcoin part according to Reuters, adding: “While the government did approach us for assistance on bitcoin,...Read More
While the entire crypto industry was extremely delighted with the news of El Salvador’s bitcoin adoption as a legal tender, several financial analysts have called out the country’s president and congress for the decision. A “Very Stupid” Decision In a recent report, Steve Hanke, a professor of Applied Economics at the John Hopkins University, has...Read More
Following the adoption of bitcoin as the country’s second legal tender, El Salvador’s government is discussing if companies would pay their employees in bitcoin. In a tweet by a local radio station 107.7 Fuego on Tuesday (June 15, 2021), three government ministries were considering the possibility of companies’ workers receiving their wages in BTC. This...Read More
