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The volatile bitcoin price resulted in El Salvador's bitcoin investments having lost approximately US$45 million with a bitcoin balance worth about US$76.5 million by September 2023. Mass adoption has been slowed by the absence of a coherent educational process across the country.
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 ...
As of September 2023, El Salvador had $76.5 million worth of bitcoin in its international reserves. [142] In 2018, research published in the Journal of Monetary Economics concluded that price manipulation occurred during the Mt. Gox bitcoin theft and that the market remained vulnerable to manipulation. [143]
'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.
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.
In June 2021, president Nayib Bukele said he would introduce legislation to make Bitcoin legal tender in El Salvador. [19] The Bitcoin Law was passed by the Legislative Assembly on 9 June 2021, with a majority vote of 62 out of 84. Bitcoin officially became legal tender ninety days after the publication of the law in the official gazette. [20 ...
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’s Bitcoin ‘Volcano Bond’ could be issued early next year after approval by regulator. ... Bitcoin’s price has retreated to about $41,300 as of Tuesday morning.