El Salvador has been purchasing 11 BTC for $1 million, a day after reaching a $1.4 billion loan agreement with the International Monetary Fund (IMF). This purchase adds to the country’s growing Bitcoin reserves, totalling nearly 6,000 BTC, valued at around $580 million. However, this move comes at a critical
El Salvador, the first country to adopt Bitcoin as a legal tender, agrees to limit Bitcoin-related activities in exchange for a $1.4 billion loan from the International Monetary Fund (IMF). Recently, El Salvador obtained a staff-level agreement with the IMF for a 40-month Extended Fund Facility (EFF) arrangement, to support
With Trump being elected as the President of the US, his pro-crypto stance is acting as a major factor for several other countries to explore the industry. Vancouver has already passed a motion to explore the possibilities of becoming a Bitcoin-friendly city. On the other hand, El Salvador’s Bitcoin adoption
As Bitcoin hit $100,000 for the first time on December 5th, Salvadoran President Nayib Bukele took to social media to promote the country’s unrealized gains from its investments in the cryptocurrency. Moreover, as the cryptocurrency hit $100,000 for the first time ever on December 5th, the crypto community celebrated. Autism
El Salvador has firmly established itself within the cryptocurrency community, notably becoming the first country to adopt Bitcoin as legal tender. The nation has surpassed 5,800 Bitcoin in daily Bitcoin accumulation, reportedly generating over $31 million in profit. This pioneering approach reflects the country’s commitment to integrating cryptocurrency into its
El Salvador has made headlines once again in the cryptocurrency world by consistently adding one Bitcoin to its national reserves every day for the past 665 days, regardless of market conditions. This accumulation strategy has brought the government’s Bitcoin holdings to 5,871 BTC, currently valued at approximately $342 million. 🇸🇻
After legalizing Bitcoin as legal tender, Salvadoran President Nayib Bukele expressed disappointment that the country’s adoption of the cryptocurrency had not progressed as far as expected. Although he acknowledged he had not seen as many advantages as he had hoped, Bukele said in an interview with Time magazine that Bitcoin
El Salvador, under the leadership of President Nayib Bukele, has continued to make changes in the crypto world with its commitment to Bitcoin. Since November 2022, the country has been purchasing one BTC every day as part of its “1 Bitcoin a Day” program. This initiative will continue until Bitcoin
The announcement of a $1.6 billion investment in Bitcoin City in El Salvador has sparked renewed interest in cryptocurrency. Yilport Holdings, a Turkish firm, would put $1.6 billion into the Acajutla and La Union ports—the latter of which will house the Bitcoin City. Crypto enthusiasts have dubbed the port construction
Jack Dorsey-backed Bitcoin mining pool Ocean has launched a “global hub” in El Salvador via its new entity. According to the X post, the new venture, Ocean Mining S.A. de C.V., headquartered in San Salvador, aims to leverage the favorable regulatory environment in El Salvador to expand its operations and
