El Salvador continues to solidify its position as a leading Bitcoin-centric nation, showcasing impressive strides in both Bitcoin mining and green energy initiatives. Recent reports indicate that the country has significantly bolstered its Bitcoin reserves, with the latest figures revealing a substantial increase. According to records, El Salvador has mined
President Nayib Bukele of bitcoin-friendly El Salvador has done away with income taxes on foreign investments entering the country. Bukele stated in a post on X: “Congress has reformed our income tax law, for international investments and money transfers, dropping the rate from 30% to 0%,” Since September 2021, when
Despite Bitcoin’s (BTC) attempts to breach the $43,500 resistance level, it faced challenges in extending its gains, slipping below $42,800 in recent trading sessions. At the time of writing, Bitcoin was trading at $42,701, with a slight decline of 0.57% in the last 24 hours. In contrast, BlackRock and Fidelity’s
Nayib Bukele, the president of El Salvador, has resigned from office to run for office again. He was the driving force behind the bill that made Bitcoin legal money in El Salvador. After receiving the green light from El Salvador’s legislative assembly, Bukele stepped down as president on December 1st.
Strategy consultant at investment management company VanEck, Gabor Gurbacs, believes that El Salvador may follow Singapore’s model and become a financial hub in the Americas. Gurbacs on a twitter post stated: “I say often to portfolio managers and asset allocators that El Salvador has the potential to become the Singapore
The Volcano Energy initiative in El Salvador, in conjunction with Lava Pool and Luxor Technology, has built the country’s first local Bitcoin mining pool. Bitcoin-friendly El Salvador is planning to produce electricity from renewable sources to support future Bitcoin mining operations, and the country’s $1 billion renewable energy initiative grabbed
El Salvador’s Ministry of Education collaborated with the non-profit group Mi Primer Bitcoin (MPB), to include Bitcoin teaching into the national curriculum by 2024. MPB’s founder, John Dennehy, has stated that the initiative is a Ministry of Education initiative. And that MPB is contributing to it together with Bitcoin Beach.
When El Salvador began accepting Bitcoin a few years ago, it drew criticism from prominent financial institutions. However, Bonds issued by the government of El Salvador have risen in value recently, and large financial institutions such as JPMorgan, Eaton, and PGIM can no longer afford to ignore this trend. El
President Nayib Bukele of El Salvador has hired Saifedean Ammous, who wrote The Bitcoin Standard, as an economic advisor for the country’s newly established National Bitcoin Office. According to a Bitcoin office statement, the author’s responsibilities include advising on matters concerning various economic policies and advocating for Bukele’s policy of
According to El Salvador’s minister of tourism, the nation is seeing an all-time high in the number of visitors. The statement is part of a larger PR push by the Central American nation to change its image from one of a lawless backwater to that of a Bitcoin and surf
