Tag: El Salvador

The Accountability for Cryptocurrency in El Salvador (ACES) Act, introduced by Senators Jim Risch, Bob Menendez, and Bill Cassidy, will demand a State Department report on managing risk to the United States financial system from country’s use of Bitcoin as legal currency. “El Salvador recognizing Bitcoin (BTC) as official currency opens the door for money laundering […]

El Salvador is about to get another slap on the wrist from a traditional financial institution for its “forbidden” love for Bitcoin (BTC). El Salvador’s long-term Issuer Default Rating has been lowered by the American credit rating agency Fitch Ratings from B- to CCC, citing “policy unpredictability” and the “adoption of Bitcoin as legal tender” as some […]

El Salvador, the Central American country that has adopted Bitcoin (BTC) as legal tender, has added 410 BTC to its central bank as BTC values fall below $37,000, the lowest point since July 26, 2021. President Nayib Bukele on Twitter revealed the latest addition to El Salvador’s BTC reserve, confirming that 410 BTC were purchased for […]

The massive price slump in the digital currency ecosystem and particularly Bitcoin (BTC) has notably caused enormous pain for both retail and institutional investors. However, El Salvador, the only country in the world where Bitcoin is officially a legal tender, also has its wounds to lick based on its BTC holdings. Since the country legalized […]

The president of El Salvador and Bitcoin lover who legalized the cryptocurrency in his country last year, Nayib Bukele, has now offered his six forecasts for Bitcoin’s path as we enter the year 2022. According to Bukele, BTC will not only hit $100,000 per token this year but it will also be approved as legal […]

According to several Salvadorans posting on social media, some of the funds from El Salvador’s state-issued Chivo wallets have gone missing. Following the government’s establishment of Bitcoin (BTC) wallets, at least 50 Salvadorans have claimed losses amounting to over $96,000, according to a December 16 Twitter thread initiated by user “the commissioner.” Some of these […]

Bitcoin transactions in El Salvador have dropped by 89% recently, says crypto-related data digging Twitter account CryptoWhale. The outspoken Bitcoin critic believes it is symptomatic of El Salvadorans’ desire to abandon digital currency. In September of this year, El Salvador declared Bitcoin to be legal tender. Since then, there has been encouraging news about Bitcoin […]

‘The Bitcoin Experiment’ is game over for fiat currencies, said Nayib Bukele, who has been criticized for his acceptance of the world’s biggest cryptocurrency. Furthermore, the President of El Salvador took to Twitter to show that he believed in the supremacy of BTC and its future potential.  Bukele said in his tweet: “What has been called […]

Central American nation El Salvador has made a new 21 Bitcoin (BTC) acquisition as a way to commemorate December 21 of the year 2021 and in the 21st Century. As shared in a Tweet, President Nayib Bukele debunked chances that the trend is a coincidence as the number 21 also represents the total number of […]

Against the broad call to regulate crypto as an asset class, Indian Lawmaker Nishikant Dubey has called on the government to ban digital currencies, stating that the supposed financial revolution is based on darknet technology. As reported by local news channels, MP Dubey raised the issue during the Zero Hour in the Lok Sabha and […]

Amid the biggest bear market we’ve all seen since Bitcoin hit an all-time high of over $65,000 in early November, the Republic of El Salvador has announced yet another purchase of 150 Bitcoin (BTC). El Salvador Buys The Dip Again The President of El Salvador, Nayib Bukele made the announcement of the purchase, via his […]

El Salvador, the first country to adopt Bitcoin as its legal tender, is continuously filling its pockets with Bitcoin during every market correction. President Nayib Bukele announced that the country has bought the dip again, investing over $5 million into BTC as the price slipped below $54,000 on Friday. In a tweet, Bukele said that […]

With the crypto market going slightly up with a clear indication of the uptrend along with the most important announcements, partnerships, and controversies, TheCoinRise is again here with the latest news roundup for November 23. Market regains some of the losses The top cryptocurrency Bitcoin finally seems to be finding a way to trek the […]

Following weekend reports that El Salvador is planning to fund its Bitcoin City initiative with Bitcoin (BTC) bonds, El Salvador’s USD bonds has nosedived to 64.4 cents to the dollar on Monday, November 22. Although, data from Bloomberg may suggest that dollar bonds have been on a steady nosedive since they topped $1.10 in April […]

El Salvador, the country known for being the first to adopt Bitcoin as its legal tender, has decided to build a whole city based on the king coin. Nayib Bukele, the president, during the Saturday night presentation at Bitcoin Week, revealed. The president informed that the “Bitcoin City” will be built along the Gulf of Fonseca near […]

El Salvador, the first country to accept Bitcoin as legal tender, has partnered with Bitfinex and Blockstream to continue its pro-crypto stance. The President of the nation, Nayib Bukele, hasn’t put a ban on crypto mining, and according to a statement by Blockstream, he wants to “accelerate hyperbitcoinization and bring about a new financial system […]

Julio Velarde, president of the megadiverse country Peru’s Central Bank, announced that the country is entering into the international race of countries developing Central Bank Digital Currency (CBDC). On November 16, during the Conference of Executives (CADE) held annually with business leaders in Lima, he said he believes that the payment system the world will have in […]

The government of El Salvador continues setting the pace with regards to Bitcoin, as it is set to build first-of-its-kind Bitcoin schools using proceeds the country has made on the virtual asset. El Salvador Leading the Bitcoin Revolution According to President Nayib Bukele, profits realized from the state’s Bitcoin Trust account will be pumped into […]