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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 ...
Milena Mayorga, El Salvador's ambassador to the United States, has said that El Salvador is still a "bitcoin country" and will maintain—and even expand—its bitcoin reserves.
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 ...
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.
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 ...
In January 2024, the first 11 US spot bitcoin ETFs began trading, offering direct exposure to bitcoin for the first time on American stock exchanges. [ 59 ] [ 60 ] In December 2024, bitcoin price reached $100,000 for the first time, as US president-elect Donald Trump promised to make the US the "crypto capital of the planet" and to stockpile ...
In exchange, the government is getting a $1.4 billion loan.
As bitcoin reached historic highs, surpassing $100,000 for the first tim e, El Salvador's President Nayib Bukele was triumphant on Thursday about his big bet on the cryptocurrency. The adoption of ...