Last Updated on May 1, 2023 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
El Salvador's Big Bitcoin Gamble Backfires to Deepen Debt …
El Salvador's Big Bitcoin Gamble Backfires to Deepen Debt …
An epic rout that has wiped out about two-thirds of Bitcoin’s value is exacerbating the debt crisis in the world’s most crypto-friendly country.
What will the crypto crash mean for 'bitcoin nation' El Salvador?
What will the crypto crash mean for 'bitcoin nation' El Salvador?
Prior to the latest price crash, El Salvador’s national bitcoin push was already failing. A study published in May found that most Salvadorans …
El Salvador's Bitcoin Bet Isn't Paying Off – The New York Times
El Salvador's Bitcoin Bet Isn't Paying Off – The New York Times
After announcing a $1 billion bond denominated in bitcoin, the government postponed the project indefinitely at the last minute, in March, …
Bitcoin: Will El Salvador's big crypto gamble pay off? – BBC
Bitcoin: Will El Salvador's big crypto gamble pay off? – BBC
The country’s 2,300 bitcoins are now worth half what the government paid for them, but the finance minister has brushed off criticism, saying …
Salvadoran President Nayib Bukele's Broken Bitcoin Promise
Salvadoran President Nayib Bukele's Broken Bitcoin Promise
On September 7, 2021, bitcoin was officially introduced in El Salvador to much propagandistic fanfare and some discontent, including social …
Analysis: Crypto crash leaves El Salvador with no easy exit …
Analysis: Crypto crash leaves El Salvador with no easy exit …
Bitcoin has fallen 45% since El Salvador officially adopted it in early September, and 26% from its May high as crypto assets have been swept up …
Bitcoin: What will happen to El Salvador if its price keeps falling?
Bitcoin: What will happen to El Salvador if its price keeps falling?
Bitcoin fell to 45 cents since El Salvador adopted the cryptocurrency. According to CoinMarketCap, the value of all combined cryptocurrencies …
Six months in, El Salvador's bitcoin gamble is crumbling
Six months in, El Salvador's bitcoin gamble is crumbling
The law made El Salvador the first country to accept Bitcoin as legal tender and required businesses to accept it as payment.
Can El Salvador Save Its Risky Bitcoin Gamble?
Can El Salvador Save Its Risky Bitcoin Gamble?
In El Zonte, people, mostly expats, had been using Bitcoin for a few years. You could still pay in U.S. dollars, which are El Salvador’s main …
Pagaonoto is an SEO editor and cryptocurrency researcher for various publications.