We Are Proud To Have Adopted Bitcoin, Says El Salvador’s Minister Of Economy
María Luisa Hayem provided insights on the government’s experience since adopting bitcoin at the Lightning Summit Adopting Bitcoin.The Bitcoin Week is taking place in El Salvador this week, hosting a range of events in the country’s capital. The week’s most prominent event is LABITCONF, the Latin American Bitcoin & Blockchain Conference, which will bring together some of the brightest brains in the Bitcoin community on Thursday, November 18, and Friday, November 19.Another major event, Adopting Bitcoin, began yesterday and will extend until Thursday. The conference will focus on Bitcoin’s....
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Salvadoran President Nayib Bukele previously announced that El Salvador’s GDP grew over 10% in 2021. El Salvador’s adoption of Bitcoin (BTC) as legal tender in September 2021 has triggered a notable surge not only for its gross domestic product but also for the local tourism development.According to El Salvador’s tourism minister Morena Valdez, the tourism industry in El Salvador surged more than 30% since the adoption of the Bitcoin law in September 2021.“We did a poll to check the activity according to the before and after of Bitcoin. The tourism sector increased in November and....
India’s prime minister, Narendra Modi, says an Indian central bank digital currency will strengthen the digital economy. The digital rupee will also revolutionize the fintech sector by creating new opportunities and lessening the burden of handling, printing, and the logistics of cash management, the prime minister reportedly explained. India’s Prime Minister Modi Sees Benefits of Digital Rupee Indian Prime Minister Narendra Modi reportedly highlighted the potential benefits of India’s central bank digital currency (CBDC), the digital rupee, on Wednesday while....
It’s too soon to talk about Bitcoin-based wages in El Salvador, Minister Rolando Castro stated. El Salvador’s Minister of Labor and Social Welfare has said that the country is not yet ready to adopt Bitcoin (BTC) for salary payments.In a Wednesday tweet, Rolando Castro denied local reports which claimed that his ministry had begun analyzing the possibility of Bitcoin-based salaries with officials from the Ministry of Finance and the Ministry of Economy on Monday. Castro stressed that he was just answering a question, stating that it was “too premature to talk about wages.” The official....
Since El Salvador adopted bitcoin as legal tender, crypto analysts have expressed skepticism about its acceptance and influence on the traditional finance sector, citing concerns that the cryptocurrency might wreak havoc on the country’s frail economy. President Nayib Bukele of El Salvador is a technoid millennial who has long advocated for increasing acceptance of digital […]
Steve Hanke has condemned the legalization of Bitcoin in El Salvador. The economist believes the decision will “completely collapse” El Salvador’s economy. He called the move “stupid.” His reasoning around this being that El Salvador is a dollarized nation and making Bitcoin legal tender would be detrimental to the economy. Professor Hanke was on Kitco […]