Search results
Results from the WOW.Com Content Network
SAN SALVADOR (Reuters) - El Salvador's Congress on Wednesday swiftly approved a bill sent just minutes earlier by President Nayib Bukele to amend its bitcoin law to comply with a deal with a key ...
SAN SALVADOR (Reuters) -El Salvador said on Thursday it would keep buying bitcoin, possibly at an accelerated pace, a day after the government reached a financing agreement with the International ...
In exchange, the government is getting a $1.4 billion loan.
El Salvador became the first country in the world to use bitcoin as legal tender, after having been adopted as such by the Legislative Assembly of El Salvador in 2021. [1] It has been promoted by Nayib Bukele, the president of El Salvador, who claimed that it would improve the economy by making banking easier for Salvadorans, and that it would encourage foreign investment.
Bitcoin ATM in El Zonte, El Salvador. Bitcoin use as a currency in El Salvador had been experimented with since at least 2019, and current President Bukele expressed interest in bitcoin while he was mayor of San Salvador in 2017. Bloomberg News reported in June 2021 that Bukele and some members of the Nuevas Ideas party had owned Bitcoin for ...
Fiscal policy has been one of the biggest challenges for the Salvadoran government. In December 1999, net international reserves equaled US$1.8 billion. Having this hard currency buffer to work with, the Salvadoran government undertook a monetary integration plan beginning in January 2001 by which the U.S. dollar became legal tender alongside the Salvadoran colón, and all formal accounting ...
'Nayibtracker.com,' an unofficial website tracking El Salvador's bitcoin portfolio based on Bukele's social media, puts it at $121.6 million on an initial $119.8 million investment, a 1.5% return.
Bitcoin will remain legal tender in El Salvador during the second term of President Nayib Bukele, his vice president said on Wednesday. Days before an election Bukele is expected to handily win ...