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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.
Despite these changes, the administration insists it remains committed to bitcoin. Milena Mayorga, El Salvador's ambassador to the United States, has said that El Salvador is still a "bitcoin ...
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 ...
Four months into El Salvador's Bitcoin experiment, few use the cryptocurrency, fraud has been widespread, and the country has lost up to $22 million. El Salvador's president buys Bitcoins 'naked ...
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 ...
In June 2021, the Legislative Assembly of El Salvador voted legislation to make Bitcoin legal tender in El Salvador. [10] [11] [12] The decision was based on the success of the Bitcoin Beach ecosystem in El Zonte that used a LN based wallet. The government will be introducing a wallet utilising the Lightning Network protocol while giving the ...
'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.
The Bitcoin Law [6] (Spanish: Ley Bitcoin, pronounced [ˈlej biðˈkojn]) [7] was passed by the Legislative Assembly of El Salvador on 8 June 2021, giving the cryptocurrency bitcoin the status of legal tender within El Salvador after 7 September 2021. [8] It was proposed by President Nayib Bukele. The text of the law stated that "the purpose of ...