The Anniversary Of El Salvador’s Bitcoin Legal Tender Announcement
A slew of guests discuss the historic one-year anniversary of President Nayib Bukele announcing El Salvador’s plan to adopt bitcoin as legal tender.This is a recording of a recent Twitter Spaces conversation about the anniversary of the president of El Salvador announcing the country’s intention to make bitcoin legal tender.Listen To This Twitter Spaces:AppleSpotifyGoogleLibsynOvercastTranscript[0:06] Stacy Herbert: We'll probably be out there on Friday for the event, the Meetup.[0:13] Bitcoin Beach (Max Keiser): Awesome. Yeah, I'll be in California. So I won't be able to make it but I....
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Resistance against El Salvador’s move to make Bitcoin a legal tender persists even as the law comes into effect. The year 2021 will probably go down the history books as one of Bitcoin’s (BTC) most interesting years, given its recent uptake by billionaires and adoption by mainstream institutions, not to mention El Salvador’s move to make it legal tender. In El Salvador’s case, it almost seems as if the whole world is watching this experiment to see whether it will be a success or a total failure for the Central American nation.With Sept. 7 marking the official implementation of Bitcoin as....
Last week, Ukraine legalized cryptocurrency in a near-unanimous vote. And it looks like the former Soviet bloc republic is taking things a step further by making Bitcoin legal tender. Legal tender refers to a lawfully recognized means of exchange to settle a debt or meet a financial obligation. In other words, if enacted, Bitcoin would […]
El Salvador’s first Bitcoin anniversary comes amid BTC losing over 60% of value in one year, but that doesn't really mean that the country’s Bitcoin experiment has failed. Sept. 7, 2022 marks exactly one year since El Salvador became the first country in the world to adopt Bitcoin (BTC) as legal tender by enforcing the Bitcoin Law.Advocating for Bitcoin as legal tender last year, El Salvador President Nayib Bukele promised that Bitcoin adoption would benefit the 70% of the local population that had a lack of access to banking services as of 2021.The Salvadoran government also touted....
The Bank of England promotes CBDCs as a “revolution of money,” while Brits are not really willing to use it. Bank of England governor Andrew Bailey has expressed concerns over El Salvador’s adoption of Bitcoin (BTC) as legal tender after President Nayib Bukele announced the launch of Bitcoin City.Bailey argued that El Salvador’s decision to adopt Bitcoin as a currency was alarming because consumers are likely to suffer from the cryptocurrency’s extreme volatility.Trading around $43,000 on the first day of El Salvador’s Bitcoin adoption as legal tender, Bitcoin surged to a new historical....
A lot of countries have been looking to follow in El Salvador’s footsteps since the country officially implemented bitcoin as a legal tender. Most of these countries have however been from the same region as El Salvador in Latin America. Others, while not looking to accept bitcoin as legal tender, have passed more favorable laws […]