An Essay From El Salvador: A Moment In Time For Bitcoin And A Country
Bitcoin adoption in El Salvador has put the country in the news in a positive light, as the world watches their progress.This is the third installment in Okcoin’s “I am Satoshi” series, profiles of Salvadorans during the transition to bitcoin as legal tender. Read the first about Elina Marchenko’s visit with Enrique Barrios of Bitcoin Smiles.“I can’t believe I’m reading about El Salvador in the Wall Street Journal!”As I read that email from a friend, it struck me how much of a contrast it was from the typical emails I receive about news stories in El Salvador. There was no shock at the....
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The success or failure of Bitcoin’s adoption in El Salvador, at the current moment, is largely defined by your expectations.
El Salvador has once again deepened its bitcoin bet with another purchase. The sovereign nation had made history as the first to officially implement bitcoin as a legal tender back in September. To mark the historical moment, President Nayik Bukele had announced that the country had bought 200 bitcoins. A promise to purchase more followed the purchased and the country had kept to that promise. The country had purchased an additional 250 bitcoins after this. The third buy-in in September brought the total of El Salvador’s holdings to 700 coins. At each of these stages, President Nayib....
Today is one of the biggest days in the history of Bitcoin, with one of the most fundamentally bullish moments unfolding: the cryptocurrency has officially become legal tender in El Salvador. But Bitcoin price isn’t responding as expected. Instead, the market has responded with an absolute bloodbath and $10,000 drop per coin. Could this mean that Bitcoin’s big deal was merely a “buy the rumor, sell the news” event? Or despite the selloff will this moment have a lasting impact? Bitcoin Price Sheds Nearly 20% In El Salvador Bloodbath Bitcoin price is down more than....
Bitcoin price is trading at around $52,000 per coin, just as the country of El Salvador has made its first ever purchase of BTC, according to President Nayib Bukele via Twitter. In addition, the driving force behind the top cryptocurrency becoming legal tender in the country for the first time is vowing to keep “buying […]
Bitcoin has now become part of El Salvador’s daily life following the official implementation of the cryptocurrency as a legal tender. Since then, the El Salvador government has pledged to purchase bitcoins and has held up its end of the bargain. Now, every time the price of BTC goes down, the country calls the dip and purchase a significant amount of bitcoin. In multiple instances spread through the past couple of months, El Salvador has purchased millions of dollars worth of bitcoin. The country had purchased 100 bitcoins during the last bitcoin dip. This time around, El Salvador has....