As the leading cryptocurrency continues to enjoy an unprecedented run, El Salvador’s Bitcoin holdings have officially surpassed a $525 million profit, according to the government’s official Bitcoin Office. Indeed, the country bet big on the cryptocurrency, and as the asset has increased to an all-time high, that is certainly paying off. Monday, Bitcoin surged above…
November 12, 2024 at 11:35 AM GST updated: November 12, 2024 at 11:29 AM 2 mins read News Bhutan’s $1B Bitcoin reserve showcases a bold diversification strategy for smaller economies. State-held digital assets gain traction as Bhutan joins nations exploring cryptocurrency as strategic reserves. Bhutan’s steady Bitcoin mining signals a strong commitment to digital assets…
As the leading cryptocurrency continues to enjoy an unprecedented surge, El Salvador has seen its Bitcoin investment surpass a $119 million profit. Indeed, the country became one of the earliest and most ardent defenders of the leading crypto in recent years. In 2021, the country officially made the asset legal tender within the country. That…
El Salvador’s President Nayib Bukele has shared details of his conversation with U.S. President-elect Donald Trump, touching on Trump’s victory, near-death experience, and their shared ambitions. El Salvador Leader and Trump’s Private Exchange: From Victory to a Brush With Deaths El Salvador’s President Nayib Bukele shared details of his phone conversation with U.S. President-elect Donald…
Ripple CEO loses his long-term bank account, Russia publishes new crypto law, BRICS payment system aims to be a SWIFT substitute, and more in this Week in Review. Week in Review Ripple’s CEO recently disclosed the closure of his 25-year-old bank account, citing his leadership role in a crypto firm as a potential cause. Russia…
A recently disclosed public records request reveals contradictions between the number of visas issued under the ‘Adopting Bitcoin’ program, which allowed millionaires to acquire Salvadoran nationality, and the numbers publicly disclosed on social media. Public Records Investigation on Salvadoran ‘Adopting Bitcoin’ Visa Program Contradicts Official Numbers With its improvements in cryptocurrency regulation and personal security,…
El Salvador’s President Nayib Bukele made a $133,000 Bitcoin donation. The money will help build 1,000 schools in Honduras, one of the biggest cryptocurrency education projects in Central America. Also Read: Multipolar Currency Era Looms As Russia, China Challenge The US Dollar How Nayib Bukele’s Bitcoin Donation is Transforming Education in Honduras Presidential Support for…
El Salvador’s President Nayib Bukele has donated two BTC, valued at approximately $133,000, to support the construction of 1,000 schools in Honduras, according to an Oct. 24 X (formerly Twitter) video. In the video, the Bitcoin advocate handed the funds to Shin Fujiyama, the founder of Students Helping Honduras, an organization dedicated to reducing poverty…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Brazil pushes BRICS to use national currencies instead of the dollar, bitcoin adoption reaches critical levels in El Salvador, and smart contracts achieve legal status in Argentina. Brazil Pushes BRICS to Shift From…
A new survey has found that bitcoin usage has dropped to critical levels in El Salvador, with less than 10% of its citizens using it to make transactions. The numbers are surprising to analysts, given the push that President Nayib Bukele has made for bitcoin in the country since its adoption as legal tender in…
El Salvador changed the dynamics of the cryptocurrency industry by adopting Bitcoin (BTC) as a legal tender in 2021. While several countries were slowly embracing the king coin, El Salvador took a big leap. But recent data reveals that BTC isn’t as popular as the industry expected it to be. Also Read: US Bitcoin ETFs…
Liberland has just elected Tron’s Justin Sun as prime minister after the results of its algorithmic election were announced. Reports disclose that this micronation is establishing a state reserve fund in Bitcoin as they call for collaboration with BTC-based payment providers. Tron founder Justin Sun has been elected as a prime minister in Liberland following the…
The International Monetary Fund (IMF) has advised El Salvador to narrow the scope of its bitcoin law, strengthen regulation and oversight of the cryptocurrency, and limit public sector exposure. The IMF remains engaged with the country to support reforms and ensure bitcoin adoption does not threaten financial stability. IMF Urges El Salvador to Tackle Bitcoin…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, El Salvador’s President Nayib Bukele meets with President Milei in Argentina, offering bitcoin advice to the Senate, and Uruguay passes a cryptocurrency law after over two years of discussion. Bukele and Milei Meet:…
According to market analyst Benjamin Cowen, Bitcoin’s price may experience an extended consolidation phase lasting up to nine months. Cowen had earlier predicted that BTC could consolidate in the short term after he described the crypto as having reached a mid-cycle top earlier this year. He first shared this analysis back in April and said…
October 5, 2024 at 12:50 PM GST updated: October 5, 2024 at 11:23 AM 2 mins read Crypto Live News The IMF encourages El Salvador to limit its Bitcoin law to protect the economy from volatility risks and ensure financial stability. El Salvador’s Bitcoin adoption faces challenges, with efforts like airdrops failing to achieve good…
October 4, 2024 at 09:40 PM GST updated: October 4, 2024 at 08:09 PM 2 mins read News IMF advises El Salvador to narrow Bitcoin law and limit public sector exposure to crypto. El Salvador’s Bitcoin experiment faces IMF push for stronger regulations, citing financial risks. IMF calls for tighter Bitcoin oversight in El Salvador…
The IMF wants El Salvador to limit “public sector exposure to Bitcoin” The financial agency’s remarks follow an August statement, which talked about “mitigat[ing] the risks from Bitcoin” The International Monetary Fund (IMF) has recommended that El Salvador reduce the scope of its Bitcoin law and limit the public’s exposure to Bitcoin. During a press…
The IMF urges El Salvador to scale back its Bitcoin policies, warning of financial stability risks. President Bukele aims for fiscal independence by 2025, reducing reliance on foreign debt. Once more, the International Monetary Fund (IMF) has urged El Salvador to scale its Bitcoin policy and improve its digital asset regulatory system. According to Reuters,…
El Salvador has doubled down on its Bitcoin moves despite ongoing pressure from the International Monetary Fund (IMF) regarding the country’s use of the digital asset. On Oct. 4, Juan Carlos Reyes, President of the National Commission on Digital Assets (CNAD), announced that the Central American country’s lawmakers had passed “important amendments to the CNAD…
During his official visit to Argentina, Bukele met with Victoria Villarruel, the nation’s vice president, to discuss cryptocurrency and the Salvadoran experience with Bitcoin. While the meeting was private, a video released before the meeting shows Villarruel asking Bukele about the first cryptocurrency and the yet-to-be-issued bitcoin-backed “volcano bonds.” Bukele Talks Cryptocurrency and Bitcoin Bonds…
The presidents of Argentina and El Salvador, Javier Milei and Nayib Bukele, met on Monday in Buenos Aires to discuss several issues concerning the mutual problems of their countries. The meeting, attended by members of both cabinets, covered topics such as security, debt issuance, and political matters. According to local sources, Bukele told Milei that…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Argentina rejects the UN’s Pact for the Future, President Nayib Bukele warns about the impending arrival of a dark age, and cryptocurrency imports reach record levels in Brazil. Argentina Rejects UN Pact for…
President Nayib Bukele highlighted El Salvador’s achievements since his first term, referring to the country’s economic revival and improved personal security before the United Nations General Assembly. Bukele also warned about worsening global conditions, stating that humanity is facing a new dark age and that El Salvador can only serve as a small shelter against…
El Salvador is the first country to officially accept Bitcoin as legal tender, ushering in a new financial era. President Nayib Bukele made cryptocurrencies legal in 2021, and El Salvador’s central bank now holds 5,748 BTC in its reserves. Bitcoins’ worth now stands at a whopping $363,836,214, while BTC is trading at $63,297. However, despite…
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we examine the budget proposal of Salvadoran President Nayib Bukele, which contemplates eliminating debt issuance and how this might change the Salvadoran economy and its outlook. Latam Insights Encore: Bukele’s Zero Debt…
The adoption of cryptocurrency, especially Bitcoin, for remittances has failed to surge in El Salvador, even with the support of President Nayib Bukele’s administration. According to data provided by the Central Reserve Bank, only 1.1% of all remittances sent to the country from January to August 2024 include cryptocurrency. Report: Adoption for Remittances Reach Only…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, President Nayib Bukele announces a zero debt budget, a batch of Salvadoran coffee gets purchased using bitcoin, and Lightspark eyes the region’s markets. Bukele States El Salvador Will Self-Finance 2025 Budget, Won’t Issue…
El Salvador’s President Nayib Bukele met with Tesla and Spacex CEO Elon Musk at the Texas Gigafactory, discussing AI, robotics, and humanity’s future. The two exchanged views on innovation, and Musk praised Bukele’s leadership. Their conversation emphasized how cutting-edge technologies could shape global progress, aligning with El Salvador’s forward-thinking stance. Bukele and Musk Discuss AI,…
September 21, 2024 at 11:00 PM GST updated: September 21, 2024 at 09:31 PM 2 mins read News Bukele met with Elon Musk at Tesla to discuss AI, Bitcoin, and El Salvador’s tech future. El Salvador adopted Bitcoin as legal tender, generating $31 million in profit. Cathie Wood predicts El Salvador’s GDP could grow tenfold…
President Nayib Bukele’s engagement with Elon Musk underscores the country’s commitment to technological advancement. El Salvador has amassed over 5,800 Bitcoins, yielding over $31 million in profit. 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…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 El Salvador President Nayib Bukele recently visited Tesla’s headquarters in Austin, Texas, to meet with CEO Elon Musk, where they discussed the future impact of emerging technologies like artificial intelligence (AI) and robotics. On September 21, Bukele posted a video on social media platform X, documenting his tour of…
El Salvador and its young President Nayib Bukele always remain in the spotlight for his farsightedness about evolving technologies. Since 2021, the nation has been actively exploring the potential of Bitcoin. According to a recent news update, Nayib Bukele meets the centi billionaire Elon Musk at Tesla to discuss the future of Artificial intelligence, digital…
According to information from the Salvadoran Ministry of Foreign Affairs, Compass Coffee, a U.S.-based coffee company, has completed an international purchase of Salvadoran coffee using bitcoin. Jorge Cruz, the Salvadoran counterpart in this transaction, explained that he received the payment in less than 10 minutes, bypassing the need for intermediaries in these deals. Salvadoran Coffee…
The US leads global Bitcoin holdings with $12.16B, primarily from law enforcement seizures. Bhutan leverages BTC mining for income, holding $782.46M in cryptocurrency reserves. Arkham Intelligence has published its newest government Bitcoin holdings leaderboard, which provides an intriguing view of global cryptocurrency strategy among nation-states. The United States leads the pack, with a stunning $12.16…
El Salvador continues to add more Bitcoins to its portfolio, raising the total to $349 million. Bukele’s government has been buying one bitcoin every day since November 2022. This strategy has given a 49% return with an unrealized profit of $ 13.26 million. El Salvador Buys Bitcoin Daily, Boosts Reserves to $349M Starting from 2022,…
President Nayib Bukele revealed that he would present a self-financed budget proposal to the Legislative Assembly of El Salvador, meaning that the government will not issue debt to pay for its operations in 2025. Bukele stressed that this would be the first time this happened in decades, highlighting the relevance of independence and self-sufficiency for…
September 17, 2024 at 03:30 AM GST updated: September 16, 2024 at 11:15 PM 2 mins read News El Salvador’s decision to end reliance on external debt marks a change toward financial independence and economic stability. The move enables El Salvador to focus on important sectors like infrastructure and education. By avoiding external debt, El…
El Salvador has made another bold leap in its fiscal strategy. It has just signaled a deeper commitment to Bitcoin as it pivots away from relying on external debt. Under President Nayib Bukele’s leadership, the country has been integrating Bitcoin into its national economy. Recent moves suggest the Central American nation is doubling down on…
By adopting Bitcoin, El Salvador hopes to end its reliance on foreign debt by 2025. President Bukele is introducing self-financed budgets, aiming for fiscal independence without international loans. El Salvador President Nayib Bukele announced that the country will no longer rely on external debt beginning in 2025. This bold pledge signals a watershed point in…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 In a recent interview, Vera Bergengruen, a TIME Magazine reporter who conducted one of the first foreign correspondent interviews with El Salvador President Nayib Bukele in three years, suggested that the country’s Bitcoin adoption may be more about image than real economic reform. Speaking on Crooked Media’s Pod Save…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Venezuelan opposition leader María Corina Machado proposes creating a bitcoin reserve, Venezuelan President Nicolás Maduro states that the country must retake the crypto path, and a GAFILAT report indicates that bitcoin has not…
El Salvador-based activist and founder of My First Bitcoin, John Dennehy highlighted the evolution of Bitcoin (BTC) in three years. On X, the crypto enthusiast recalled being in San Salvador on September 6, 2021, just a day before it became legal tender in El Salvador. On September 7, 2021, El Salvador, under the leadership of…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Exactly three years ago today, on September 7, 2021, El Salvador became the first country in the world to accept Bitcoin as legal tender. That move marked a significant milestone in the nation’s financial history and made the North American nation a trailblazer in digital asset usage. The adoption…
The Financial Task Force of Latin America (GAFILAT) released an evaluation of the state of El Salvador regarding compliance with international anti-money laundering requirements. The institution found that, while El Salvador included bitcoin as legal tender in 2021, the crypto asset has not reached a ‘significant impact’ or elevated transactional volumes. Financial Task Force of…
President Nayib Bukele pondered how El Salvador adopted the bitcoin banner and evaluated how it has fared for the country so far. In a recent interview given to Time magazine, Bukele admits that while Bitcoin adoption has not grown as he expected, adopting bitcoin as a legal tender worked as a rebranding for the nation….
El Salvador’s president Nayib Bukele discloses profit and numerous benefits since legalizing Bitcoin as a legal tender in 2021. He said potential profits and financial inclusion fueled their Bitcoin move. El Salvador became the first country to adopt Bitcoin (BTC) as legal tender in 2021 after Congress voted in favor of President Nayib Bukele’s proposal. Three years…
Bukele acknowledged he had not seen as many advantages as he had hoped. Time magazine named the president the most popular authoritarian in the world. 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…
Bitcoin is now a big part of El Salvador’s money plan. The country took a chance on crypto, and it worked. They turned $135 million into $400 million. This El Salvador crypto success story has everyone watching. People wonder if other countries will do the same. Also Read: Ripple: XRP’s $0.64 Target in Sight as…
El Salvador’s President Nayib Bukele revealed that the country has gained about $265 million after adopting Bitcoin as a reserve asset and legal tender. Bukele shared that El Salvador has invested $135 million in Bitcoin, which has since grown to $400 million in the public wallet alone. According to him, Salvadorans who embraced Bitcoin have…