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Tag Archives: Nayib Bukele

El Salvador Is Building More Schools With Bitcoin’s Help

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...

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El Salvador Just Bought a Whole Lotta Bitcoin

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...

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El Salvador Is Still Experiencing Digital Wallet Issues

El Salvador is reporting that more than half a million residents are using the new Chivo wallet system, which is designed to assist in the country’s rollout of bitcoin as an official legal tender. El Salvador Doesn’t Have Much to Brag About This would be fine and dandy except for one thing… El Salvador has more than 6.5 million residents. Thus, many individuals are either still not trusting bitcoin enough to use the wallet, or there are too many problems with the...

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No Taxes for Foreign BTC Investors in El Salvador!

El Salvador has announced that foreign bitcoin investors will not have to pay tax on the profits they make through cryptocurrency transactions. El Salvador Makes Things Easy for Foreign BTC Investors The news comes just a little over a week after the Central American nation declared bitcoin legal tender. El Salvador is the first nation to make such a move, and now it looks like several others – such as Paraguay – are interested in following in the country’s footsteps....

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Remittance Payments in El Salvador Can Become Much Easier with BTC

One of the big reasons why Nayib Bukele – president of El Salvador – is pushing bitcoin so much is because he thinks it will lessen remittance fees. According to a new study, the implementation of bitcoin in the Central American country could wind up costing Western Union about $400 million each year. El Salvador Could See Its Remittance System Change for the Better Jaimie Garcia, a Salvadorian who fled to Canada at the age of 11, has been living abroad for some time...

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Report: 3/4 of El Salvador Residents Don’t Want BTC

According to a new survey, approximately three quarters of El Salvador residents are not crazy about their country adopting bitcoin as an official currency, citing confusion over how the asset works as the primary reason. El Salvador Is Creating Turmoil Through Bitcoin El Salvador has been largely dependent on the U.S. dollar to get around and operate in the world, but now the country is doing something that no nation has ever done before: it’s declaring bitcoin legal...

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Not Every Resident of El Salvador Is Crazy for BTC

El Salvador is all set to make bitcoin legal tender by next week, and yet already the country is experiencing a lot of resistance and fear from its own people. El Salvador Is Pushing Bitcoin, But Not Everyone’s Happy In many ways, bitcoin is still a new – and struggling – technology. The world’s number one digital currency by market cap, like many of the globe’s cryptocurrencies, was initially designed to serve as a payment tool; something that would ultimately push...

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Bitcoin Is Fully Legal in El Salvador Starting Early September

The bitcoin agenda of El Salvador has gone from being an idea to a solid reality. The country had announced not too long ago that it was planning to ensure bitcoin would become legal tender within its borders after spending many years relying on USD. It looks like the nation has finally gotten its wish. El Salvador Is Pushing BTC Like No Other Country Beginning on September 7 of this year, bitcoin can be used legally as currency to purchase goods and services in El...

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