Bitcoin education center launches in El Salvador to boost adoption
90% of El Salvadorans described their knowledge of Bitcoin as poor or non-existent last year despite BTC becoming legal tender. Go to Source Powered by WPeMatico
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El Salvador Switches Tech Providers — Chooses Alphapoint to Operate Chivo Bitcoin Wallet
On February 2, 2022, the blockchain infrastructure provider Alphapoint has announced that the Salvadoran government has chosen the firm to operate the bitcoin wallet Chivo. The bitcoin wallet is the largest fintech application in the country and Alphapoint “supports the frontend and backend infrastructure that powers the wallet and integrates the entire ecosystem.” Alphapoint to … Read more
El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender
El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.” El Salvador Says No to IMF on Bitcoin The government of El Salvador has rejected a recommendation … Read more
Salvadoran President Nayib Bukele Expects Bitcoin to Experience a ‘Gigantic Price Increase’
El Salvador’s president, Nayib Bukele, believes that it’s just a matter of time before bitcoin sees a “gigantic price increase.” Bukele stressed on Twitter that bitcoin is extremely scarce and there’s not enough bitcoin in the world for all today’s millionaires. Salvadoran President Says Best Time to Buy Bitcoin ‘Is When the Price Is Down’ … Read more
El Salvador president predicts ‘gigantic price increase’ for Bitcoin
There is not enough Bitcoin for global millionaires if each of them wants to own one, Bukele said. Go to Source Powered by WPeMatico
IMF Tells El Salvador: Costs of Making Bitcoin Legal Tender Exceed Potential Benefits
The International Monetary Fund (IMF) has told El Salvador that the costs of implementing the country’s Bitcoin law, which makes the cryptocurrency legal tender, exceed the potential benefits. The IMF has also urged El Salvador to dissolve the “Fidebitcoin” trust fund and start charging fees for services provided by the government’s Chivo digital wallet. IMF’s … Read more
Staying cool: Is crypto snowballing to 1 billion users this year?
Demographics rule: “Younger people are more likely to embrace crypto than older generations.” Meanwhile, the Great Transfer of Wealth is coming. Go to Source Powered by WPeMatico
Fading power? Weak DOGE spike after Elon Musk makes McDonald’s offer
The Twitter feud between Elon Musk and McDonald’s has escalated after the Tesla CEO offered to eat a happy meal on television Go to Source Powered by WPeMatico
IMF urges El Salvador to remove Bitcoin’s status as legal tender
According to the IMF’s executive board, the use of Bitcoin as legal tender carried “large risks” related to financial stability, financial integrity and consumer protection. Go to Source Powered by WPeMatico
IMF Urges El Salvador to Drop Bitcoin Tender Law, Executive Board Report criticizes BTC Bonds, Chivo Wallet
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