Category: El Salvador

El Salvador Buys Another 500 Bitcoin Amid Market Pullback

El Salvador Buys Another 500 Bitcoin Amid Market Pullback

El Salvador president Nayib Bukele has announced another Bitcoin purchase amid the current crypto market turmoil. Over Twitter, Bukele claimed to have bought exactly 500 Bitcoin for an average of $30,744 dollars each on Monday. The president, who has admitted to making Bitcoin buys from his phone using the country’s money, referred to the purchase […]

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El Salvador’s Bitcoin Adoption Is Yet to Capture the Local’s Interest (Study)

El Salvador’s Bitcoin Adoption Is Yet to Capture the Local’s Interest (Study)

According to the American non-profit organization – the National Bureau of Economic Research (NBER) – the majority of El Salvadorans (60%) have not downloaded the Chivo Wallet (a feature that facilitates bitcoin transactions). Additionally, there have been almost no downloads since September 2021, when the country became the first nation to adopt the asset as […]

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Working Study Says Despite Legal Tender Status, Bitcoin Is Not a Widely Accepted Medium of Exchange in El Salvador

Working Study Says Despite Legal Tender Status, Bitcoin Is Not a Widely Accepted Medium of Exchange in El Salvador

According to a working study published by the U.S. National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus. The report shows that the median Chivo wallet user made no deposits or withdrawals in a given month. NBER Study: Only 4 out of 10 Salvadorans Use […]

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Latam Is a Hotbed of Opportunities for Crypto Companies, According to Ripple

Latam Is a Hotbed of Opportunities for Crypto Companies, According to Ripple

Ripple, the cryptocurrency and payments company, has issued an article examining the opportunities that Latam brings for crypto companies as its regulated payments rails come to crypto. While the region faces some obstacles due to its economic traits and the dominance of centralized banks, the organization believes there is a lucrative opening for companies partnering […]

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Two More Regions to Adopt Bitcoin as Legal Tender: Report

Two More Regions to Adopt Bitcoin as Legal Tender: Report

The autonomous region of Portugal – Madeira – and Prospera – a jurisdiction on Honduras’ Roatán island – will reportedly adopt bitcoin as an official payment method inside their borders. Residents from both territories won’t have to pay capital gains tax when buying or selling the primary cryptocurrency. Following El Salvador’s Path Bitcoin’s global popularity […]

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Luna Foundation Purchases 5,040 BTC, Terra Reserves Rise to 35,767 Bitcoin

Luna Foundation Purchases 5,040 BTC, Terra Reserves Rise to 35,767 Bitcoin

On April 6, onchain data shows the Luna Foundation Guard’s (LFG) bitcoin wallet has added 5,040 bitcoin to its reserves. The added funds were worth roughly $221 million at the time of settlement. LFG managed to purchase the bitcoins while bitcoin lost 3.9% against the U.S. dollar during the last 24 hours. LFG Buys the […]

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US Senate Committee Advances Bill to Mitigate Risks From El Salvador Adopting Bitcoin as Legal Tender

US Senate Committee Advances Bill to Mitigate Risks From El Salvador Adopting Bitcoin as Legal Tender

The Senate bill to mitigate the risks from El Salvador adopting bitcoin as legal tender has advanced in the U.S. “As El Salvador has adopted bitcoin as legal tender, it’s critical we mitigate risks to our financial system,” said one of the U.S. lawmakers who introduced the bill. Bill to Mitigate Risks From Bitcoin Being […]

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Salvadoran Bitcoin Bonds Might Be Issued by State Geothermal Company La Geo, Delays Possible

Salvadoran Bitcoin Bonds Might Be Issued by State Geothermal Company La Geo, Delays Possible

The treasury minister of El Salvador, Alejandro Zelaya, has informed about the future of the issuance of the bitcoin bonds and the possibility of these being issued by La Geo, the national geothermal power company. Zelaya also referred to the day of issuance of these instruments, hinting at a possible delay that would see the […]

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El Salvador’s Bitcoin-fueled Vet Hospital Opens This Week

El Salvador’s Bitcoin-fueled Vet Hospital Opens This Week

Nayib Bukele’s administration announced that the veterinary hospital built by bitcoin profits will open on Saturday (February 26). The President revealed that each treatment will cost $0.25 worth of BTC. Not Just Daydreaming Apart from becoming the first county to embrace bitcoin as legal tender, El Salvador has also purchased the primary cryptocurrency on a […]

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Breaking : Mexican Senator Hints That The Country Might Be Next To Legalize Bitcoin

El Salvador continues to champion crypto adoption among other nation-states. inspired by the Central American country, Indira Kempis, a Mexican Senator, has said that Mexico needs Bitcoin to be legal. The senator is developing a cryptocurrency bill that is based on El Salvador’s Bitcoin Law. Kempis: Mexicans can get financial inclusion with Bitcoin Kempis noted […]

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