Category: El Salvador bitcoin legal

Central African Republic President on BTC Volatility: ‘Mathematics Don’t Account for Human Emotions’

Central African Republic President on BTC Volatility: ‘Mathematics Don’t Account for Human Emotions’

In an apparent message to critics of the Central African Republic’s bitcoin decision, the country’s president, Faustin-Archange Touadéra, recently argued that understanding the crypto’s disruptive power is crucial and that “mathematics don’t account for human emotions.” According to Touadéra, the country’s future generations are likely to applaud his government for “choosing the right path during […]

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Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin Risks

Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin Risks

One of the largest rating agencies in the U.S., Fitch Ratings, has downgraded El Salvador’s long-term default rating deeper into junk status, citing risks from adopting bitcoin as legal tender as a key reason. “The adoption of bitcoin as legal tender has added uncertainty about the potential for an IMF program that would unlock financing […]

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