El Salvador to Commence Daily Bitcoin Purchases
El Salvador’s President Nayib Bukele recently tweeted that the government will begin acquiring one Bitcoin every day starting on November 18th. Read CNL.
El Salvador
El Salvador`s financial analysis by Nayib Bukele
A financial analysis of El Salvador’s economy has been done by Bank of America. President Bukele has emphasized the study. El Salvador’s tax revenues are up 2.7pp of GDP. The President of the Republic of El-Salvador, Nayib Bukele, emphasized the financial study conducted by Bank of America, which, in the president’s perspective, is the only one most closely tied to El Salvador’s reality. According to a recent assessment by Bank of America, the world’s second-largest bank holding corporation, the Salvadoran government has proved its ability to manage in the next years without going bankrupt. “The government appears to be able
Ethereum’s Vitalik Buterin Urges Masses to Embrace Crypto Payments
Co-Founder of Ethereum says cryptocurrency payments are the best option. Vitalik Buterin emphasizes just how crypto payment options can help the world progress. He even expresses how crypto payments could help within a nation’s borders. Co-Founder of Ethereum — Vitalik Buterin, addresses the power that cryptocurrencies hold on Twitter. In particular, he talks about what cryptocurrencies offer to the public and the world and how unfortunate it is that many still do not realize their potential. As we can see from the tweet above, Vitalik Buterin says that people still continue to underrate cryptocurrency payments. Specifically, he says that they
44 Countries Meet in El Salvador to Discuss Bitcoin
President Nayib Bukele of El Salvador confirmed a meeting with 44 other countries. The main focus of the meeting is on Bitcoin and the digital economy. El Salvador, the first country to recognize Bitcoin as legal tender, now has 2,000 BTC holdings. El Salvador’s President Nayib Bukele announced via Twitter that 44 countries will meet in El Salvador. According to him, they will discuss financial inclusion, digital economy, banking the unbanked, the Bitcoin rollout and its benefits in his country. The 44 countries consist of 32 central banks and 12 financial authorities. These central banks and financial authorities are essentially
El Salvador Uses Bitcoin Gains To Open Pet Hospital
El Salvador announces the inauguration of its new pet hospital. This pet hospital is fully funded by the nation’s Bitcoin gains. President Nayib Bukele continues to make the best of Bitcoin for El Salvador. El Salvador continues to set the bar and dazzle the world with its latest good deed powered by Bitcoin. In detail, the nation announces the inauguration of a pet hospital fully funded by Bitcoin gains. Specifically, the inauguration of the pet hospital took place last night as an event. Here, President Bukele confirms that this was only possible thanks to surplus government funds from Bitcoin’s rise
El Salvador’s Chivo Wallet Will Receive a Massive Revamp
El Salvador’s Bitcoin Wallet — Chivo Wallet, is getting a massive revamp. The country has hired two US-based companies to improve the crypto wallet. This should resolve all the issues that Chivo Wallet has been facing lately. El Salvador’s crypto wallet — Chivo Wallet, will be receiving a massive revamp. In particular, the country’s government has hired two capable and highly renowned companies to fix any and all issues presently faced by the Chivo Wallet. Specifically, the two companies are both US-based. The first is AlphaPoint from New York. This company will focus on providing support for both the front
El Salvador to Launch Bitcoin City, $1B Bitcoin Bond
El Salvador announced its plans to launch Bitcoin City. This location will have zero income tax, capital gains tax, property tax, and payroll tax. The country partnered with Blockstream to issue $1 billion in tokenized bonds. El Salvador recently unveiled its plants to launch what it calls Bitcoin City. According to a Twitter post, this cryptocurrency metropolitan area will be located in La Unión, an eastern municipality of the country. Another tweet said that the country aims to offer zero income tax, capital gains tax, property tax, and payroll tax. Instead, Bitcoin City will run dependent on 10% sales tax
Bitcoin Lightning Network Surges, Thanks to El Salvador
Bitcoin’s Lightning Network capacity has surged, which is now 3,225 BTC. The surge occurred since El Salvador started adopting Bitcoin as legal tender. Bitcoin price is currently at $59,300, according to CoinGecko. The Bitcoin Lightning Network capacity has reached a new all-time high (ATH) of 3,225 BTC. According to Arcane Research, the surge is due to El Salvador’s adoption of Bitcoin as a legal tender alongside the US dollar. While the network has been on a continuous hike, El Salvador’s impact has been very pivotal to sustain the momentum. Within the country, businesses are starting to integrate Bitcoin as one
Presidential Advice: El Salvador Buys 150 Bitcoins Amid Market FUD
El Salvador has purchased additional 150 bitcoins. In total, the country’s treasury now possesses 700 bitcoins. President Nayib Bukele announced the news amid widespread market FUD. Despite current market FUD, El Salvador President Nayib Bukele announced that the country has purchased additional 150 bitcoins. With the addition of the mentioned coins, the country now holds a total of 700 BTC in its national treasury. President Bukele backed up his tweet, saying “they can never beat you if you buy the dips.” He also added that it is “presidential advice”. BTC/USDT 1-day chart (source: TradingView) The crypto market has suffered a
Crypto Market Flash Crash Makes El Salvador Buy the Dip
Bitcoin plunges below $50k Investors forecast Bitcoin to reach over $500k in the future. Bitcoin, the king of cryptocurrency, again experienced a bearish dip as it dropped its price below $50k. This bearish performance of Bitcoin was felt on every corner of the crypto market. Hence, the market capitalization of the crypto market amounts to $2.1 trillion, which has been down by -9.4% in the past 24 hours. Truly, this behavior of the market recently gives chills to investors and traders around the world. Aside from Bitcoin, some crypto assets such as XRP, LINK and DOGE also experienced the wild
El Salvador Set to Launch a National Cryptocurrency Soon
El Salvador is introducing its own national cryptocurrency. This crypto will be a stablecoin that will go by the name of ‘Colón-Dollar’. Eventually, the country aims to recognize all cryptos as legal tenders. El Salvador has come a long way since its initial announcement at the Miami Bitcoin 2021 conference. Its latest news surrounding cryptocurrency is the fact that the country plans to launch its very own stablecoin this year. According to a local digital newspaper in the country — El Faro, El Salvador’s government aims to establish its own native cryptocurrency. This crypto will be a stablecoin that the
El Salvador BTC legal tender is optional, locals get $30 BTC
Bitcoin as legal tender in El Salvador is optional Businesses in El Salvador can accept Bitcoin but not receive them El Salvador gives $30 Bitcoin to its citizens El Salvador president Nayib Bukele stated on the last national chain that Bitcoin as a legal tender is optional. Specifically, Bukele pointed out that businesses in their country can decide if they will accept Bitcoin or not. This statement by the president of El Salvador contradicts the current law of Bitcoin as a legal tender in the country. Bukele further explained: “ Using Bitcoin as legal tender “will be optional” and businesses
