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The International Monetary Fund (IMF) has been very critical of cryptocurrencies and according to a report on Tuesday, the IMF’s board has “urged” El Salvador to discontinue its bitcoin tender status. A few members of the IMF’s board said the country’s decision to leverage bitcoin within its financial system could pose risks. IMF Report Attempts … Read more
El Salvador bought the dip as the price of bitcoin plunged to a record low. President Nayib Bukele said Friday that his country has purchased 410 more bitcoins. The Salvadoran government has bought a total of 1,801 bitcoins since the cryptocurrency was made legal tender in the country. El Salvador Buys the Dip The president … Read more
The government of El Salvador will offer cryptocurrency-based loans to small companies. Conamype, the National Commission for Micro and Small Enterprises, will be the link between the investors and a decentralized finance protocol called Acumen, that will be able to provide funding in stablecoins. The aim being to help small investors that have no credit … Read more
President Nayib Bukele confirmed that the purchase of 410 BTC was made against $15 million, placing the trading price at approximately $36,585 per BTC. Go to Source Powered by WPeMatico
The Salvadoran government is looking to create a Bitcoin-backed loan product for micro and small businesses across the country. Go to Source Powered by WPeMatico
Chivo, El Salvador’s official Bitcoin wallet, has managed to onboard 70% of the unbanked population in El Salvador, partner says. Go to Source Powered by WPeMatico
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
The Kingdom of Tonga may adopt bitcoin as legal tender, according to a former member of Tonga’s parliament, Lord Fusitu’a, who tweeted about a possible timeline for this event to occur. Fusitu’a believes that by next fall a bill will be passed by Tonga’s parliament and bitcoin could be legal tender in the region by … Read more
The credit rating agency believes El Salvador’s Bitcoin experiment has elevated the country’s risk profile and could limit its access to foreign debt markets. Go to Source Powered by WPeMatico
In a ruling that is “almost identical to the El Salvador bill,” Tongan bigwig Lord Fusitu’a anticipates that his country could adopt Bitcoin by November. Go to Source Powered by WPeMatico
