El Salvador News

With this purchase, El Salvador’s Bitcoin reserve now amounts to 1,270 BTC, which is worth nearly $60.3 million at the time of writing.

With the addition of the 100 coins today, El Salvador holds 1,220 BTC, worth roughly $66.3 million following the crypto asset's drop to the $54,000s.

The Bank of England promotes CBDCs as a “revolution of money,” while Brits are not really willing to use it.

Investors have grown weary of El Salvador’s dollar debts as the country further adopts Bitcoin. Meanwhile, the IMF has recommended that BTC not be used as legal tender.

The development of Bitcoin City will see the proactive involvement of prominent crypto companies including cryptocurrency exchange Bitfinex and Adam Back’s Blockstream.

Zimbabwe is currently engaged in consultations regarding growing interest in crypto and the potential risks.

The government will use the “surplus” from its Bitcoin Trust account that currently contains 1,120 BTC.

The recent purchase brings the Latin American nation’s stash to about 1,120 BTC.

Uphold CEO JP Thieriot said that the nature of life in Latin America begs for use cases based on Bitcoin.

El Salvador’s Bitcoin adoption agenda continues apace, this time extending to a local airline.

The country’s central bank chief does not see the recent Bitcoin adoption move hampering plans to secure an IMF loan.

Users of the Salvadoran government’s Chivo wallet will not be able to see frozen price quotes until the feature has been removed to deter arbitrage scalpers.

President Bukele confirmed that Chivo has recorded 24,076 remittance requests, which has added up to $3,069,761.05 in one day.

Developing economies are more affected by issues related to remittances and inflation, BitMEX’s CEO said.

Salvadoran President Nayib Bukele said no Bitcoin will be sold to fund the investment, with the state instead drawing USD from its Bitcoin trust.