Last Updated on February 25, 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 Bitcoin Bet Isn't Paying Off – The New York Times
El Salvador's Bitcoin Bet Isn't Paying Off – The New York Times
The use of bitcoin among Salvadorans has collapsed and the country is running out of cash after Mr. Bukele failed to raise fresh funds from …
In Global First, El Salvador Adopts Bitcoin as Currency
In Global First, El Salvador Adopts Bitcoin as Currency
MEXICO CITY — El Salvador on Tuesday became the first country to adopt Bitcoin as legal tender, allowing the cryptocurrency to be used in …
What the crypto collapse means for El Salvador's economy
What the crypto collapse means for El Salvador's economy
In 2021, El Salvador became the first country to adopt Bitcoin as currency. NPR’s Adrian Florido asks business professor Julio Sevilla how …
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
When El Salvador officially made Bitcoin legal tender in September 2021, José Bonilla was one of the first citizens to sign up for a …
Why has El Salvador officially adopted bitcoin as its currency?
Why has El Salvador officially adopted bitcoin as its currency?
Every Salvadoran has been gifted $30 in bitcoin (the US dollar is the nation’s other official currency) and can now shop or pay their taxes with …
What will the crypto crash mean for 'bitcoin nation' El Salvador?
What will the crypto crash mean for 'bitcoin nation' El Salvador?
For El Salvador, which staked its economy on the success of bitcoin when it became the first country to make cryptocurrency legal tender in …
'Nothing positive': Salvadorans struggle to adapt to Bitcoin
'Nothing positive': Salvadorans struggle to adapt to Bitcoin
Many Salvadorans remain wary of the digital currency after a rollout marred by technical glitches and identity theft. Despite a mandate that …
Pagaonoto is an SEO editor and cryptocurrency researcher for various publications.