Tag Archives: El Salvador

On December 4, bitcoin suffered its worst trading day since mid-May, as its price plunged to a two-month low of $42,000. Somewhat expectedly, this massive $16,000 crash in less than 24 hours led to a change in investors’ sentiment as the popular Bitcoin Fear & Greed Index went into “extreme fear” territory once again. Extreme Fear Shakes The Crypto Community The Bitcoin Fear & Greed Index works as an indicator of momentary investor sentiments towards the primary...

Nayib Bukele – the president of El Salvador – has announced to the people of his country that the government is taking its bitcoin agenda to the next level. Regulators and city planners are looking to build a whole new village at the base of a volcano. The region will be known as “Bitcoin City” given that it will be entirely dependent on bitcoin and blockchain technology to thrive. El Salvador Is Pushing BTC Even Further He stated that a bond offering is going to occur...

The Bank of England is not a fan of bitcoin nor its growing adoption in countries like El Salvador. The Governor – Andrew Bailey – has repeatedly expressed his “concerns,” but this time, El Salvador’s President Nayib Bukele issued a response. BOE “Concerned” About El Salvador and Bitcoin Ever since the small Central American nation outlined plans to adopt bitcoin as legal tender in June 2021, numerous global financial organizations have tried to warn the country not to do it....

Nayib Bukele – President of El Salvador – recently announced that his country has purchased another 100 Bitcoin. That’s about $5.4 million worth of the primary cryptocurrency, at today’s prices. El Salvador Continues to HODL As always, the “CEO” of El Salvador (as reads his bio) casually announced the purchase in a tweet on Friday. Despite Bitcoin’s bearish slump this week, the president has not second-guessed his investment. Instead, he took it as a chance to stack sats. “El...

El Salvador continues to create history with its bitcoin adoption, with the latest initiative being the announcement of an entire city focused on the primary cryptocurrency. The nation plans to put this plan in the works through mining-backed volcano bonds worth in total $1 billion. While this may sound groundbreaking and surprising to some, one person – Max Keiser – was actually the one to pitch the idea first months ago. El Salvador’s Bitcoin Steps It was June 2021 when the...

Just months after adopting BTC as legal tender, the small Central American country plans to create a Bitcoin City with the help of Blockstream and Bitfinex. Separately, the country said it will buy $500 million more of BTC. Bitcoin City in El Salvador The country made the news earlier this year by indicating that it will vote to accept the primary cryptocurrency as legal tender. Despite enhanced backlash from global organizations like the IMF, El Salvador’s authorities...

El Salvador says it is looking to utilize some of the profits it’s made from holding and trading bitcoin to build roughly 20 schools throughout the country. El Salvador Will Rebuild Its Education System The announcement came by way of Nayib Bukele, the nation’s president. Not long ago, the nation of El Salvador took advantage of a bitcoin dip that saw the world’s number one digital currency by market cap fall to roughly $59,000 per unit. From there, the currency rose...

Nayib Bukele – the president of El Salvador – has confirmed a purchase of approximately 420 bitcoins now that the currency has fallen below the $60,000 line. Bukele stated that he and his country are looking to “buy the dip” and expand their crypto horizons through the purchase. El Salvador Adds a Lot of BTC to Its Stash Not long ago, the world’s number one digital asset by market cap rose as high as $66,000 per unit. Now, the currency has fallen into a bit of a hole and...

El Salvador has announced another initiative related to bitcoin and some of the profits coming from the asset. Nearly a month after revealing that it will build a pet hospital, the crypto-friendly nation is now on its way to creating 20 BTC schools employing some of its investment gains. Bitcoin Education for The Salvadorans A recent tweet coming from the Press Secretary of the Presidency outlined El Salvador’s future plans. The governing body revealed that its bitcoin...

El Salvador is taking necessary action to stop all those who have allegedly been misusing the new Chivo crypto wallet the country has implemented. Apparently, it only took about a month and a half for some people to resort to criminal activity to make their money via crypto. El Salvador Is Taking Action Against Alleged Cheaters The Chivo wallet is the new bitcoin wallet system that allows residents of the country to hold bitcoin, which they can then use to pay for goods...