Bitcoin in El Salvador – One Year Later
It has been one year since Bitcoin became legal tender in El Salvador. Crypto adoption has not been without issues in El Salvador, but it’s difficult to weed through the different stories about Bitcoin because there are so many competing interests promoting or FUDing Bitcoin. This article will filter through the nonsense and describe how Bitcoin in El Salvador has panned out one year after it became legal tender. Why El Salvador Made Bitcoin Legal Tender El Salvador made Bitcoin legal tender ostensibly for a few reasons. The government cited the following reasons: A significant portion of....
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El Salvador’s bitcoin experiment has been ongoing for less than a year. Things aren’t going as smoothly as the small Central American country had hoped, at least in terms of bitcoin investments as the crypto market enters a bloodbath. El Salvador Bitcoin Experiment Last June, El Salvador’s President Nayib Bukele shocked the globe by announcing […]
Bitcoin remittances to El Salvador jumped more than fourfold in May from the previous year, according to data from blockchain analytics firm Chainalysis. Last week, El Salvador passed a bill making bitcoin legal tender in the country alongside the U.S. dollar. The monthly bitcoin transfers of under $1,000 to El Salvador totaled $1.7 million in May, representing more than a 300% increase from $424,000 the previous year, Reuters reported, citing data from blockchain analytics firm Chainalysis. The monthly bitcoin transfers to the country peaked in March at $2.5 million. While remittances....
Just over a year after overseeing El Salvador’s adoption of bitcoin, the Central American country’s 41-year-old president, Nayib Bukele, recently declared his intention serve another five-year term. The announcement has been criticized by some who have been quick to remind Bukele that El Salvador’s constitution prohibits presidents from serving consecutive terms.
Re-Election of Presidents a Common Practice in Developed Countries
El Salvador’s bitcoin-embracing leader, President Nayib Bukele, recently revealed that he plans to serve another five-year....
El Salvador, the country which made bitcoin legal tender, has purchased 21 more bitcoins to celebrate “the last 21st day of the year 21 of the 21st century,” President Nayib Bukele announced. The country has bought about 1,391 bitcoins altogether. El Salvador Buys More Bitcoins El Salvador’s President Nayib Bukele announced Tuesday that his country has bought more bitcoin. His announcement began with a tweet that reads: “El Salvador’s entire size is 21,000 km2. Coincidence? I don’t think so!” He followed up with a series of tweets that....
Bitcoin is now legal tender in El Salvador, and the country’s bitcoin stash has grown to 550 coins. The Salvadoran government started buying the cryptocurrency Monday ahead of the Bitcoin Law taking effect. On Tuesday, President Nayib Bukele said El Salvador bought the dip.
El Salvador Buys More Bitcoin
El Salvador’s Bitcoin Law came into effect Tuesday, Sept. 7, making BTC a national currency alongside the U.S. dollar.
El Salvador has been buying bitcoin ahead of the Bitcoin Law taking effect. President Nayib Bukele announced Monday that his government....