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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 ...
On January 29, the assembly—controlled by President Nayib Bukele's New Ideas Party—passed the legislation with a 55–2 vote. Six articles of the Bitcoin Law were modified and three others ...
Bukele, after all, declared Bitcoin to be legal tender in 2021, and continues to work with firms like Bitfinex and Strike to attract crypto investor interest. The reality of Bukele’s rule is far ...
Bitcoin City is a planned smart city project in La Unión, El Salvador.The planned city is intended to be a tax haven, and to use geothermal energy to power Bitcoin mining. . The feasibility of its reliance on both geothermal energy and Bitcoin have been the subject of criticism, alongside concerns regarding delays in the project's financing and construct
Bukele mocked news-media outlets on Twitter, saying that there were "literally thousands of articles" about El Salvador's bitcoin losses and the same outlets were now "totally silent". [180] By 19 January 2025, the Salvadoran government had 6,043 bitcoins worth $611.2 million.
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.
The coin reached a record high at the time of $60,000 and attracted new investors such as Elon Musk’s Tesla and the country of El Salvador, led by president Nayib Bukele, a Bitcoin enthusiast.
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 ...