Bitcoin Adoption

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Salvadoran President Nayib Bukele Takes Aim at Bitcoin Detractors, Says the Ones Who Are Afraid ‘Are the World’s Powerful Elites’

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It’s been over a year since El Salvador codified bitcoin as legal tender in the Latin American country, and by popping the ‘orange pill,’ the country was propelled into the international spotlight. At the end of September, the 41-year-old Salvadoran president Nayib Bukele penned an opinion editorial that takes aim at the detractors who think … Read more

Central African Republic President Says Successful Launch of Sango Coin a Key Milestone

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According to Central African Republic President Faustin-Archange Touadéra, his country’s launch of the “Sango coin” currency, as well as the call for the creation of a common digital currency by the regional central bank, represent two key achievements for his country and all of Africa. President Touadéra also said “Sango is the future of our … Read more

The more you know about Bitcoin, the more optimistic you are: Block survey

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Over 9,500 people around the world were surveyed for Block’s 2022 Bitcoin report which showed that more optimistic individuals possessed a greater self-reported knowledge level of the crypto. Go to Source Powered by WPeMatico

World Bank won’t support Central African Republic’s Sango crypto hub

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The World Bank has said “it will be physically impossible” for the lender to fund the planned Sango crypto hub and voiced concerns regarding the country’s adoption of Bitcoin. Go to Source Powered by WPeMatico

Report: IMF Says Central African Republic’s Bitcoin Adoption Poses Risks

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The International Money Fund (IMF) has added its voice to institutions and parties criticizing the Central African Republic (CAR)’s decision to adopt bitcoin. The IMF insists the adoption poses legal economic challenges not only to the country but to the region as well. CAR’s Bitcoin Adoption Has Financial and Legal Issues The IMF has reportedly … Read more

Working Study Says Despite Legal Tender Status, Bitcoin Is Not a Widely Accepted Medium of Exchange in El Salvador

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According to a working study published by the U.S. National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus. The report shows that the median Chivo wallet user made no deposits or withdrawals in a given month. NBER Study: Only 4 out of 10 Salvadorans Use … Read more

Goldman Sachs Warns Bitcoin Increasingly Vulnerable to Fed Rate Hikes as Mainstream Adoption Grows

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Global investment bank Goldman Sachs has warned that bitcoin is increasingly vulnerable to the Federal Reserve’s rate hikes as the cryptocurrency grows more widely adopted. “Over the last two years, as bitcoin has seen wider mainstream adoption, its correlation with macro assets has picked up,” the Goldman analysts explained. Goldman Sachs Warns Bitcoin Increasingly Vulnerable … Read more

Fidelity Expects More Countries to Acquire Bitcoin Citing ‘Very High Stakes Game Theory’

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Fidelity expects more sovereign nation states, or even a central bank, to acquire bitcoin this year. “There is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers,” the firm explained. Fidelity’s Crypto Predictions Fidelity Digital Assets, … Read more