President Nayib Bukele, of El Salvador, announced yesterday he would issue a $1 billion “Bitcoin Bond” to build the first Bitcoin City in the world. The city would feature no taxes of any kind except VAT, and it would be carbon neutral, with most of the energy powering it coming from geothermal sources. Bukele also…
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The development of Bitcoin City will see the proactive involvement of prominent crypto companies including cryptocurrency exchange Bitfinex and Adam Back’s Blockstream. El Salvador continues to lead the Bitcoin (BTC) adoption drive as President Nayib Bukele announces the launch of Bitcoin City, which will be funded initially by $1 billion Bitcoin bonds. The initiative was…
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El Salvador had made history when it became the first sovereign nation to make bitcoin a legal tender. The September 7 official adoption had sent the entire space into jubilation as it had marked a significant stride for BTC. Barely a teenager, the digital asset had grown from being a relativity unknown internet coin to…
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The government will use the “surplus” from its Bitcoin Trust account that currently contains 1,120 BTC. The government of El Salvador is embarking on its next Bitcoin-related project which involves building schools using profits the nation has made on the asset. Profits or the “surplus” from the state’s Bitcoin Trust account will be channeled into…
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El Salvador, the country that made bitcoin legal tender alongside the U.S. dollar, has bought the dip again. The Salvadoran government has purchased a total of 1,120 bitcoins, currently worth more than $68 million. El Salvador’s Bitcoin Holdings Grow El Salvador has bought the dip again, taking advantage of the falling price of bitcoin on…
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The recent purchase brings the Latin American nation’s stash to about 1,120BTC. The President of El Salvador, Nayib Bukele tweeted earlier today that his government has taken advantage of the recent Bitcoin price drop and added 420 additional BTC to the nation’s stash. “It was a long wait, but worth it,” he tweeted, “We just…
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Uphold CEO JP Thieriot said that the nature of life in Latin America begs for use cases based on Bitcoin. El Salvador’s Bitcoin (BTC) adoption has triggered a digital asset revolution in Latin America, and the region could benefit even more if people can exchange cryptocurrencies, fiat money and the upcoming central bank digital currencies…
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While Colombia is not a country that has embraced cryptocurrencies compared to Venezuela or some African countries, it is the country with the second most cryptocurrency ATMs in the Latam region. The reason behind this could be that Colombia has a high percentage of cash usage. This makes cryptocurrency ATMs a very important tool for…
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On October 15, the day bitcoin’s price surpassed the $60K per unit handle, Salvadoran president Nayib Bukele taunted the professor of applied economics at Johns Hopkins University, Steve Hanke, over his recent statements. At the time, the well known economist warned that El Salvador faces “financial ruin” with “Bukele at the helm,” after El Salvador’s…
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