El Salvador Fails World Bank Support Over BTC Implementation

El Salvador Fails World Bank Support Over
  • El Salvador failed to gain the support of the World Bank in its Bitcoin implementation.
  • Athena Bitcoin offered El Salvador over a thousand Bitcoin ATMs installation in the country.

The country of El Salvador has failed to gain the support of the World Bank in its Bitcoin implementation. This is due to the environmental and transparency issues that the cryptocurrency is facing. As a result, this decision made by the World bank gathered different opinions across the financial world.

World Bank explained:

“While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”

This statement by the World Bank made Samson Mow, the CEO of Pixelmatic, react in a tweet post:

On the other hand, there are also firms that completely support and agree with El Salvador’s Bitcoin implementation. For instance, Athena Bitcoin, the owner or operator of BitQuickco, extended its support to El Salvador by planning to provide over a thousand Bitcoin ATMs in the country.

In other news, the MicroStrategy firm continues to increase its Bitcoin holdings. Specifically, MicroStrategy is offering $400 million of senior secured notes to all qualified institutional investors. These notes will be due in 2028 and all the proceeds from the transaction will be used to buy Bitcoin.

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