This week is a special one, for September 7, 2022 marks the first anniversary of El Salvador formally adopting Bitcoin as legal tender – the first country in the world to do so. A day before the law came into force, Bitcoin’s price was more than $50,000. On Friday, however, it was worth $20,634.97 This […]
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How has the adoption of Bitcoin as an official currency worked out for the Central American country? How has the adoption of Bitcoin as an official currency worked out for the Central American country? The story so far: The crash in the price of Bitcoin and other cryptocurrencies has put El Salvador’s government in trouble. […]
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El Salvador’s Nayib Bukele told his Twitter followers to be patient, even as the country’s Bitcoin investments fall by more than 50% in value El Salvador’s Nayib Bukele told his Twitter followers to be patient, even as the country’s Bitcoin investments fall by more than 50% in value On Sunday, Bitcoin fell below the key […]
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El Salvador’s big bet on bitcoin, which the Central American nation has been buying since September, has soured in recent weeks as a cryptocurrency rout shaved over a third of the value of the government’s holdings, Reuters calculations show. Under populist President Nayib Bukele, a vocal cheerleader for the currency, El Salvador went all-in on […]
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A transition towards cryptocurrencies by the Central African Republic and El Salvador is spurred by the urge to circumvent inflationary pressures and move away from colonial currency mechanisms. However, prerequisites such as internet and financial digital literacy make a case for inclusivity cumbersome A transition towards cryptocurrencies by the Central African Republic and El Salvador […]
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