Tensions Grow In El Salvador Over The Bitcoin Gamble
El Salvador will become the first country that adopts Bitcoin as its legal tender in September. However, several warnings are coming from the economist over the risks such a move poses. According to John Hopkins University findings, paying remittances with Bitcoin will be more costly than the usual traditional method. Also, another survey revealed that […]
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As tensions rise amid falling BTC prices, President Nayib Bukele decided to share advice for fellow Bitcoin investors that may be concerned about the prolonged bear market. El Salvador introduced BTC as legal tender on September 7, 2021, when its market price was around $50,000. Ever since, Bukele’s government made significant returns on their initial BTC investments as Bitcoin rallied to its all-time high of $69,000, which was redirected to the country’s various infrastructure development initiatives. However, as tensions rise amid falling BTC prices, Bukele decided to share advice for....
El Salvador, the country that made bitcoin legal tender alongside the U.S. dollar, has bought the dip again. The Salvadoran government has purchased a total of 1,120 bitcoins, currently worth more than $68 million. El Salvador’s Bitcoin Holdings Grow El Salvador has bought the dip again, taking advantage of the falling price of bitcoin on Wednesday. President Nayib Bukele tweeted: “It was a long wait, but worth it. We just bought the dip.” At the time of writing, the price of bitcoin is $61,129, down from an all-time high of almost $67,000 on Oct. 19 based on data....
El Salvador, a small nation in Central America, is making a colossal wager on the future of cryptocurrency. President Nayib Bukele is spearheading a series of audacious initiatives designed to transform El Salvador into a Bitcoin paradise, attracting billions in foreign investment and propelling the country towards economic prosperity. But will this bold gamble pay […]
The president of El Salvador has some advice for bitcoin investors. He believes investments in the largest cryptocurrency are safe and will “immensely grow” after the bear market.
El Salvador’s President on Bitcoin Investments
The president of El Salvador, Nayib Bukele, has spoken up about bitcoin investments amid BTC’s heavy sell-off.
El Salvador has purchased 2,301 bitcoins since the country made BTC legal tender alongside the U.S. dollar in September last year. With the price of bitcoin plunging, El Salvador’s BTC investment has....
Jimmy Song shares his perspective on El Salvador's adoption of bitcoin, the housing market and how fiat currencies reduce the quality of life.