Which Nation Will Follow El Salvador's Lead?
With the nation state game theory playing out in front of us, it is interesting to speculate on who may be next.El Salvador’s bold and groundbreaking move to declare bitcoin legal tender on June 8, 2021 has caught the attention of the world and the imagination of their Latin American neighbors. As the 14th most populated country in Latin America and with a past filled with decades of corrupt leadership and violence, it is unlikely that El Salvador has been the object of envy for any Latin American countries in the past 30 years. However, that has suddenly changed with the success and....
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El Salvador’s president and Bitcoin fanatic, Nayib Bukele, doubled down on his country’s sinking investment in the cryptocurrency by purchasing more than $1.5 million more on Friday. The Central American nation hogged the headlines last year when it became the first nation to recognize bitcoin as legal cash. El Salvador has also been purchasing Bitcoin, most […]
El Salvador seems to be looking to a future fully integrated with bitcoin. The country which had made history in September as the first sovereign nation to make bitcoin a legal tender has taken another step forward in its adoption of the cryptocurrency. After investing millions of dollars into BTC, El Salvador has announced the […]
El Salvador was the first country to make Bitcoin a legal tender. Though some speculations have given pessimistic forecasts on the implications for the nation, things seem to be moving in a contrary wave. El Salvador’s tourism record has shown a tremendous spike for the first half of 2022. According to government data, the country […]
Ever since El Salvador passed a bill that was approved by a supermajority in the Salvadoran Congress legalizing bitcoin as legal tender in the nation, the country has remained in the spotlight. Furthermore, there’s an area in El Salvador called “Bitcoin Beach” with a small group of beach villagers that are attempting to leverage bitcoin on a daily basis. El Zonte Beach Town and Surfer Village Attempts to Create a Bitcoin Circular Economy in El Salvador In a region located about 50 miles from the Litoral highway, there’s a small village and a lively surfer community....
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....