Monday , November 28 2022
Home / Tag Archives: El Salvador (page 5)

Tag Archives: El Salvador

El Salvador’s $1B Bitcoin Bond Offering Delayed: Will Wait for Favorable Market Conditions

Retail and institutional investors will have to wait further for the $1 billion Bitcoin Bonds as El Salvador has postponed its planned offering. Amidst geopolitical turmoil, the country’s Finance Minister Alejandro Zelaya said they would wait for favorable conditions in the financial market, and the hold-up be could be as late as September. Unfavorable Market Conditions The El Salvadorean central bank was previously scheduled to launch the long-awaited Bitcoin Bonds between...

Read More »

El Salvador Will Sell Debt to Build Its Bitcoin City

As a means of avoiding assistance from the International Monetary Fund (IMF), the Central American nation of El Salvador is looking to sell debt that’s fully backed by bitcoin. The IMF has already asked the country to avoid all bitcoin activity in the future, though El Salvador graciously responded by giving the global organization the finger, claiming on social media that it would never step away from crypto. El Salvador Will Sell Bitcoin-Backed Debt The bitcoin-backed...

Read More »

Tourism Explodes in El Salvador Thanks to BTC

The bitcoin agenda in El Salvador has produced some unexpected side effects. The country is experiencing a huge boom in tourism thanks to its newfound love of crypto. El Salvador Is Seeing a Lot More Visitors El Salvador announced last year that it was going to make bitcoin legal tender. It was the first nation to do so, and right now, someone can walk into a store or organization and purchase items and services with digital currency along with fiat. While the use of...

Read More »

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 macro-economic level. In October 2021, the government disclosed they will use its $4 million profit (at that time) from...

Read More »

Mexican Senator Aims to Introduce Bitcoin Legal Tender Bill

Mexican senator for the State of Nuevo León, Indira Kempis, has stated that she wants to make the country second after El Salvador to adopt Bitcoin. However, the chances of this actually happening are slim at best. Speaking to local media this week, she noted that she aims to promote the use of Bitcoin in the country and use her political position to achieve that goal. “We need bitcoin to be legal tender in Mexico, because if it is not so, if we do not make that decision as...

Read More »

The Bitcoin Effect: El Salvador’s Tourism Sector Up 30% Since BTC’s Adoption

El Salvador’s decision to make bitcoin an official payment method inside the nation’s borders has positively affected the local tourism industry, said the country’s Minister of Tourism. Since then, the sector has been up by more than 30% as most visitors come from the United States of America. Tourists Want to Explore The Bitcoin-Loving Country Similar to other Latin American nations, the tourism sector contributes a significant part of El Salvador’s GDP. Prior to the...

Read More »

El Salvador to the US: Stay Out of Our Bitcoin Business!

It can be argued that El Salvador wants to become a completely sovereign nation. This is potentially why the country is looking to get rid of fiat and become so dependent on bitcoin. It wants to be completely independent and not have to rely on any other region. El Salvador Wants to Be in Charge of Itself Thus, it makes sense that Nayib Bukele – the president of El Salvador – doesn’t want a bunch of U.S. senators and politicians sticking their big noses into his bitcoin...

Read More »

Bitcoin Bull Max Keiser Has High Hopes for El Salvador’s BTC Volcano Bonds

El Salvadorean President Nayib Bukele’s ambitious Bitcoin Law has met staunch opposition. However, Bitcoin bull Max Keiser believes the grand experiment could help El Salvador become the equivalent of a city of London in Central America. El Salvador and Bitcoin In conversation with Diario El Salvador, Keiser said El Salvador could become a Bitcoin ‘hub’ for Central and Latin America. He noted that London was one of the three largest financial centers in the world before...

Read More »

Fitch Downgraded El Salvador’s Rating Citing Bitcoin Adoption Risks

Fitch cited policy unpredictability stemming out of the increased concentration of power in the presidency, weakening institutions, and the legalization and adoption of Bitcoin as the reason for lowering the rank. Reasons Behind The Move As per the official post, “heightened” financing risks arising from growing dependency on short-term debt reflects Fitch’s move of downgrading El Salvador. It also pointed out the limited scope of the country’s domestic market financing as...

Read More »

Fidelity Thinks Bitcoin Is the Best Crypto

Fidelity – an investment platform – has called bitcoin a “superior” form of money, and it doesn’t think any other form of crypto is likely to surpass it. Fidelity Thinks Bitcoin Is the Strongest Crypto It’s unclear if Fidelity is a crypto fan or not, though it seems to recognize all the headway the currency has made in recent years. Not long ago, the company announced that many more countries are likely to follow in the footsteps of El Salvador, which was the first nation in the world to...

Read More »