Category: El Salvador

Budget airline Volaris to accept bitcoin payments in El Salvador

Budget airline Volaris to accept bitcoin payments in El Salvador

The El Salvador-based subsidiary of ultra-low cost airline Volaris will accept bitcoin payments, according to tweets from El Salvador’s presidential Twitter account that were confirmed by the airline.  El Salvador’s new bitcoin law requires all businesses in the country to accept the cryptocurrency as a form of payment, as long as they have the appropriate […]

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Salvadoran President Nayib Bukele Taunts Economist Steve Hanke After Bitcoin’s Price Skyrockets

Salvadoran President Nayib Bukele Taunts Economist Steve Hanke After Bitcoin’s Price Skyrockets

On October 15, the day bitcoin’s price surpassed the $60K per unit handle, Salvadoran president Nayib Bukele taunted the professor of applied economics at Johns Hopkins University, Steve Hanke, over his recent statements. At the time, the well known economist warned that El Salvador faces “financial ruin” with “Bukele at the helm,” after El Salvador’s […]

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El Salvadorans Are Converting Their USD to BTC as Interest in Bitcoin Soars

El Salvadorans Are Converting Their USD to BTC as Interest in Bitcoin Soars

A month after the Bitcoin law went into effect in the central American nation of El Salvador, interest in the cryptocurrency has continued to soar as a greater percentage of residents are converting their dollars into BTC. In a tweet made by the country’s president, Nayib Bukele, El Salvador’s in-house crypto wallet app – Chivo […]

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Bank of Spain Criticizes El Salvador’s Foray Into Bitcoin

Bank of Spain Criticizes El Salvador’s Foray Into Bitcoin

The Bank of Spain, the central bank of the country, criticized the adoption process El Salvador chose when declaring Bitcoin legal tender last month. In a report titled “The role of crypto assets as legal tender: the example of El Salvador,” the bank examines several pain points the country encountered while applying its bitcoin strategy, […]

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Salvadoran President Nayib Bukele Announces Construction of Vet Hospital With Bitcoin Trust Funds

Salvadoran President Nayib Bukele Announces Construction of Vet Hospital With Bitcoin Trust Funds

Nayib Bukele, president of El Salvador, announced yesterday he will start using surplus funds from the country’s bitcoin trust. Part of the $4 million excedent will be invested in a vet hospital that will offer different services for the pets of Salvadoran citizens. Bukele explained this is possible due to the bitcoin price increase in […]

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El Salvador Will Use Its Bitcoin Profits to Build a Massive Pet Hospital

El Salvador Will Use Its Bitcoin Profits to Build a Massive Pet Hospital

If you didn’t like the way Nayib Bukele was implementing his Bitcoin policy in El Salvador, maybe his latest actions will change your mind, or at least make you admit he wants to be a bit cute. After experiencing his first days in the green, the president of El Salvador revealed he was going to […]

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El Salvador’s president tweets plan to use bitcoin profits to build an animal hospital

El Salvador’s president tweets plan to use bitcoin profits to build an animal hospital

El Salvador will use part of its $4 million in bitcoin profits to build a modern-looking pet hospital, its president Nayib Bukele explained Saturday in a series of tweets. Bukele said the trust El Salvador created to help make Bitcoin legal tender now has a surplus due to the cryptocurrency gaining value. El Salvador’s lawmakers […]

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Vitalik Buterin Criticizes El Salvador President’s Mandatory Bitcoin Adoption Policy

Ethereum co-founder Vitalik Buterin spoke out against President Nayib Bukele’s compulsory bitcoin usage for merchants and businesses, saying it was against cryptocurrency’s “ideals of freedom.” Buterin commented in response to a Reddit article titled “Unpopular opinion: El Salvador President Mr. Nayab (Nayib)  Bukele should not be praised by Crypto community.” The Ethereum co-founder did not […]

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El Salvador’s Bitcoin Adoption “Deserves Praise, Not Derision”- BitMEX CEO

The Chief Executive Officer of derivatives trading platform, BitMEX, Alexander Höptner said El Salvador’s decision to adopt Bitcoin as one of its legal tenders is a move that “deserves praise, not derision” from global monetary heavyweights. According to a message from the crypto veteran, the Bitcoin move from El Salvador was born out of the […]

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BitMEX CEO Gives Three Reasons Why Five Countries Could Legalize Bitcoin in 2022

BitMEX CEO Gives Three Reasons Why Five Countries Could Legalize Bitcoin in 2022

El Salvador’s decision to officially make bitcoin a legal tender inside its borders has caused some controversy. While some locals expressed their dissatisfaction, many prominent names such as Michael Saylor praised the move as “extraordinary” and “world-shaking.” The world is yet to find out whether this would turn out to be the beginning of a […]

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