«Accepting bitcoin was not mandatory for businesses in El Salvador. That is why many businesses still do not accept bitcoin,” recalls a Reddit user speaking about the possibility of changes being made to the regulation on the use of bitcoin (BTC). The comment, published on the social network this December 9, is part of a … Read more
Forcing someone to accept bitcoin is a fiat action. Literally fiat. Fíat in Latin means “let it be done”, it implies a decree. When El Salvador passed its Bitcoin Law and made it mandatory for businesses to accept BTC, it promoted Bitcoin from a fiat approach, not a bitcoiner. Therefore, not only is it not … Read more
The book documents 5 projects that are using Bitcoin for all day to day transactions. That movement began in Latin America, where it continues to grow and expands to Africa. “Bitcoin Circular Economies: Stories of Hope Built on the Sovereign Money of the Future” documents the development of five community projects with Bitcoin as their … Read more
It is estimated that El Salvador’s bitcoin reserves have 6,177 BTC. At the time of writing, bitcoin is valued at $102,659. Bitcoin made history. The recent rise in the price of the leading cryptocurrency to over $100,000 pushed El Salvador’s reserves to a new record. According to data from the Nayib Bukele Portfolio Tracker website, … Read more
50 million ounces of gold await the country to reverse the law that prohibits metal mining. Bukele’s bitcoin strategy is already giving strong signs that it is working. The president of El Salvador, Nayib Bukele, is determined to continue diversifying the national treasury after he revealed, in March of this year, the address of a … Read more
Moody’s highlights that the new rating “reflects the moderate economic strength of El Salvador” The firm sees a structural improvement in the security situation and the government’s liquidity. On Tuesday, November 26, the credit rating agency Moody’s announced an improvement in El Salvador’s risk rating, raising it from Caa1 to B3. This new rating, which … Read more
The new law will allow Bitcoin mining by taking advantage of Salvadoran natural resources. With more than 200 volcanoes, the country will seek to promote its sustainable energy, as is happening today in Kenya. Nayib Bukele’s government is determined to continue exploring economic opportunities around bitcoin (BTC), including digital mining and, therefore, energy. In that … Read more
The president of El Salvador Nayib Bukele launched the proposal to “rent a volcano to mine Bitcoin.” This as an alternative to strengthen the economy of the Central American country, which is already generating significant profits with its DCA (Dolar Cost Averaging) strategy, exceeding 80% over the bitcoins (BTC) that the Salvadoran government has purchased … Read more
With the aim of offering investors exposure to US Treasury bills, Bitfinex Securities, an exchange linked to Tether, launched a tokenized public offering in El Salvador on November 19. The idea is that digital asset issuer NexBridge Digital Financial Solutions, based in the Central American country, will issue a new token that will be traded … Read more
Amid the profits that El Salvador is obtaining from its investments in bitcoin (BTC), due to the dizzying rise of the digital currency, President Nayib Bukele launches a new offer to buy back foreign debt. The president announced the offer through his account in X, pointing out that the holders of El Salvador bonds, with … Read more