El Salvador stacks 150 Bitcoin after BTC price crashes below $50k
With this purchase, El Salvador’s Bitcoin reserve now amounts to 1,270 BTC, which is worth nearly $60.3 million at the time of writing. Go to Source Powered by WPeMatico
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Bank of England Governor Worried About Bitcoin Being Legal Tender in El Salvador
The governor of the Bank of England, the country’s central bank, has voiced concerns about El Salvador choosing bitcoin as a national currency. Citing a recent warning by the International Monetary Fund (IMF) against bitcoin’s use as legal tender, the governor said: “What would worry me most of all is, do the citizens of El … Read more
El Salvador Buys 100 More Bitcoins Amid Crypto Sell-Offs and New Covid-19 Variant Scare
As reports of a new Covid-19 strain spread, tanking the price of many cryptocurrencies, El Salvador bought the dip. The country has added 100 more bitcoins to its treasury despite a recent warning by the International Monetary Fund (IMF), bringing the total number of bitcoins purchased to 1,220. El Salvador Buys the Dip: 1,220 Bitcoins … Read more
El Salvador celebrates Black Friday, buys 100 BTC for 20% off
With the addition of the 100 coins today, El Salvador holds 1,220 BTC, worth roughly $66.3 million following the crypto asset’s drop to the $54,000s. Go to Source Powered by WPeMatico
Bitcoin too volatile to be adopted as legal tender, says BoE chief
The Bank of England promotes CBDCs as a “revolution of money,” while Brits are not really willing to use it. Go to Source Powered by WPeMatico
IMF Warns El Salvador Against Using Bitcoin as Legal Tender After ‘Bitcoin City’ Announcement
The International Monetary Fund (IMF) has warned El Salvador against using bitcoin as legal tender due to various risks associated with cryptocurrency. The warning came one day after Salvadoran President Nayib Bukele announced his plan to build a “bitcoin city” powered by a volcano and financed by bitcoin bonds. IMF Says El Salvador Shouldn’t Use … Read more
El Salvador’s dollar debt dives on Bitcoin bond plans
Investors have grown weary of El Salvador’s dollar debts as the country further adopts Bitcoin, meanwhile the IMF has recommended that BTC not be used as legal tender. Go to Source Powered by WPeMatico
Central Bank of Peru Will Develop a Digital Currency
The Central Reserve Bank of Peru, the Peruvian central bank, is planning to develop a central bank digital currency (CBDC) like other economies of the world. The announcement was made by its president, Julio Velarde, who stated that the currency would be designed for use primarily in payments. However, Velarde also acknowledged this was not … Read more
El Salvador to Issue $1 Billion Bitcoin Bond to Fund ‘Bitcoin City’
President Nayib Bukele, of El Salvador, announced yesterday he would issue a $1 billion “Bitcoin Bond” to build the first Bitcoin City in the world. The city would feature no taxes of any kind except VAT, and it would be carbon neutral, with most of the energy powering it coming from geothermal sources. Bukele also … Read more
El Salvador to inaugurate Bitcoin City backed by $1B Bitcoin bonds
The development of Bitcoin City will see the proactive involvement of prominent crypto companies including cryptocurrency exchange Bitfinex and Adam Back’s Blockstream. Go to Source Powered by WPeMatico
