Surfing, bitcoin, and crime reduction were responsible for the country’s tourism comeback. Compared to 2019 Salvador’s tourism revenue increased by 6%. The president of El Salvador, Nayib Bukele, expressed his views on the rise in tourism-related revenue in the country and advocated for the introduction of bitcoin (BTC) as legal
The IMF pleaded with El Salvador to outlaw the use of Bitcoins as legal tender. On Twitter, Bukele declared he was presenting two legislation to the National Assembly. According to El Salvador’s President Nayib Bukele’s announcement, the nation intends to repurchase $1.6 billion in dollar-denominated bonds from the market. Last
An $800 million bond payment is due in January 2023 on President Nayib Bukele. El Salvador’s initial purchase in September last year saw a 50% drop in its value. Investors can take advantage of the present pricing of El Salvador-issued Eurobonds because of the recent crypto meltdown, according to Morgan
It will begin with small enterprises in the Ilopango, Soyapango, and Apopa neighborhoods. Bitfinex’s CTO thinks $1.33 million in crypto assets would be a boon to the country. Bitfinex, a digital currency exchange, has announced that it is providing 36 Bitcoin (BTC) and 600,000 Tether (USDT) to small companies and
Over 67 million individuals in Mexico still do not have access to a bank account. Indira Kempis proposed a bill to accept BTC as legal tender in Mexico. Mexican senator Indira Kempis proposed a bill to accept Bitcoin (BTC) as legal tender in Mexico and claims the second-largest market that
Salvador’s finance minister, said the “fiscal risk is extremely minimal.” Jim Cramer, the presenter of Mad Money, thinks Bitcoin will fall below $12,000. There are some words of wisdom for bitcoin investors from El Salvador’s president, though. In his opinion, bitcoin investments are secure and will “immensely grow” after the
El Salvador’s government has bought 2,301 units of cryptocurrency in total. An $800 million bond issued by El Salvador is due in January 2023. Alejandro Zelaya, El Salvador’s finance minister, downplayed on Monday fears that a steep decline in the value of bitcoin may harm the economic health of the
El Salvador already lost over $35 million in investments. The country blames current market conditions and the Ukraine conflict for the postponement. El Salvador’s Finance Minister Alejandro Zelaya said the Bitcoin (BTC) bond launch will be postponed due to difficult market conditions caused by the ongoing Russia-Ukraine conflict and overall
El Salvador is the first country to adopt BTC as a legal tender. Bitcoin laid out the map of ‘Bitcoin City’ on May 10. President Nayib Bukele announced on Twitter that El Salvador is meeting up with 44 countries on Monday. 32 central banks and 12 financial authorities across the
When it comes to acquiring Bitcoin, El Salvador follows a “buy the dip” approach. This is the country’s lowest-cost purchase to date. El Salvador, known as the Bitcoin nation, recently stated that it had acquired 500 BTC at an average price of $30,744 per coin, totaling approx. $15.4M. President Nayib
