El Salvador’s Latest Initiative Reiterates Country’s Commitment To Its Bitcoi...
El Salvador, a leader in embracing Bitcoin (BTC) as a legal tender, has taken a significant step forward in launching its first local Bitcoin mining pool “Lava Pool”. This step marks a pivotal landmark for the country, in its ambitions to harness renewable energy sources for cryptocurrency mining. El Salvador’s Latest Bitcoin Mining Pool El […]
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A pair of high-ranking officials in El Salvador’s ruling party, Nuevas Ideas, took aim at critics who stand in opposition to the country’s forthcoming Bitcoin legal tender law on Tuesday.
The Telegraph’s latest hatchet job on El Salvador’s bitcoin strategy is right on the money. In a hilarious twist of events, mainstream media’s latest attack on the volcano bonds makes the case for bitcoin in all its glory. Everything that the article “The world should fear El Salvador’s bizarre Bitcoin experiment” implies is exactly the […]
Despite all of the existing volatility, El Salvador’s move to legalize BTC has helped pave the way for a digital future helmed by crypto assets. It was September 6, 2021, when the Central American nation of El Salvador decided to go ahead and purchase 200 Bitcoin (BTC), worth about $10.3 million at the time. The day was hailed as momentous in the history of the crypto market and was met with much fanfare. In fact, many proponents claimed that the purchase was just an inkling of what really lay ahead in terms of a global crypto-driven economy.However, a lot has changed since then,....
Bond investors appear to be betting against El Salvador’s controversial Bitcoin Law, but other factors need to be taken into account. El Salvador’s move to embrace Bitcoin has ruffled the feathers of bond investors, with yields spiking as investors signal uncertainty for the emerging economy.A Sept. 8 report published by Bloomberg notes the yield curve on El Salvador’s bonds has recently inverted, meaning bonds with short-term maturities are now yielding more than is due from the instruments. It stated:“That’s generally considered a bad sign as it means investors see shorter-term debt as....
The credit rating agency believes El Salvador’s Bitcoin experiment has elevated the country’s risk profile and could limit its access to foreign debt markets. El Salvador’s historic embrace of Bitcoin (BTC) could have negative consequences on the country’s sovereign credit outlook, according to Moody’s Investors Service. Moody’s analyst Jaime Reusche told Bloomberg this week that El Salvador’s Bitcoin gambit “certainly adds to the risk portfolio” of a country that has struggled with liquidity issues in the past. Under the leadership of President Nayib Bukele, El Salvador has recognized....