Last Updated on March 8, 2024 by Paganoto
El Salvador bitcoin experiment not saving country's finances
El Salvador bitcoin experiment not saving country's finances
In Sept. 2021, El Salvador became the first country to adopt bitcoin as legal tender. The initiative involved buying bitcoin with public funds, as well as launching a national virtual wallet called “chivo” (Salvadoran slang for “cool”) that offers no-fee transactions and allows for quick cross-border payments.Jun 25, 2022
In Global First, El Salvador Adopts Bitcoin as Currency
In Global First, El Salvador Adopts Bitcoin as Currency
President Nayib Bukele has promoted the cryptocurrency as a path to financial freedom, but economic experts and many Salvadorans worry the …
El Salvador Botches Bitcoin Adoption – Foreign Policy
El Salvador Botches Bitcoin Adoption – Foreign Policy
On June 5, El Salvador President Nayib Bukele declared that bitcoin, the first cryptocurrency, would become legal tender in El Salvador.
Six months in, El Salvador's bitcoin gamble is crumbling
Six months in, El Salvador's bitcoin gamble is crumbling
Adopting Bitcoin, he said, would digitize the economy, decrease dependence on the U.S. dollar, lower remittance fees — which account for about …
El Salvador's President Bukele Uses Bitcoin for a Rebrand
El Salvador's President Bukele Uses Bitcoin for a Rebrand
El Salvador’s adoption of bitcoin as legal tender on Sept. 7 makes it a crypto-pioneer. But its president is also dismantling democracy.
El Salvador's adoption of bitcoin as legal tender is pure folly
El Salvador's adoption of bitcoin as legal tender is pure folly
But President Nayib Bukele instead decided to designate both bitcoin and the dollar as legal tender. The logic behind that decision is surreal.
El Salvador's world-first adoption of bitcoin endures bumpy …
El Salvador's world-first adoption of bitcoin endures bumpy …
SAN SALVADOR, Sept 7 (Reuters) – El Salvador’s historic adoption of bitcoin as legal tender on Tuesday was beset by teething problems, …
A year after El Salvador adopted Bitcoin as legal tender, it …
A year after El Salvador adopted Bitcoin as legal tender, it …
A year after El Salvador adopted Bitcoin as legal tender, it could default on its sovereign debt in 2023.
One year Since El Salvador announced Bitcoin adoption …
One year Since El Salvador announced Bitcoin adoption …
Bukele stuck to his word, making El Salvador the first nation to adopt bitcoin as a legal tender on September 7, 2021.
Pagaonoto is an SEO editor and cryptocurrency researcher for various publications.