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why would el salvador adopt bitcoin

Last Updated on April 5, 2024 by Paganoto

In Global First, El Salvador Adopts Bitcoin as Currency

In Global First, El Salvador Adopts Bitcoin as Currency

Using the cryptocurrency would make it faster and cheaper to get remittances from abroad, he argues, and could free the indebted nation from the hold of the traditional global financial system. Making Bitcoin legal tender — alongside the dollar, which the country has relied on since 2001 — is also part of Mr.Oct 7, 2021

Why has El Salvador officially adopted bitcoin as its currency?

Why has El Salvador officially adopted bitcoin as its currency?

El Salvador is the first country to adopt the cryptocurrency bitcoin as legal tender, but other nations may follow suit.

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.

Living with bitcoin as a currency: the case of El Salvador

Living with bitcoin as a currency: the case of El Salvador

The reasons for El Salvador adopting bitcoin (BTC) as legal tender include: reducing the strong reliance on the U.S. dollar in the country’s …

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.

El Salvador's adoption of bitcoin as legal tender is pure folly

El Salvador's adoption of bitcoin as legal tender is pure folly

El Salvador already accepted this when it adopted the dollar. The costs would be even greater if a currency as unstable as bitcoin were the …

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.

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, …

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, …