Central Reserve Bank: Only 1.1% of Remittances Involve Cryptocurrency in El Salvador

September 24, 2024 Bitcoin.com

The adoption of cryptocurrency, especially Bitcoin, for remittances has failed to surge in El Salvador, even with the support of President Nayib Bukele’s administration. According to data provided by the Central Reserve Bank, only 1.1% of all remittances sent to the country from January to August 2024 include cryptocurrency. Report: Adoption for Remittances Reach Only […]

Currency Wars Are Brewing: The Seeds of a Global Financial Spiral Are Being Sown

Salvadoran Basic Goods Basket Rose to Historic Highs in June

July 27, 2024 Bitcoin.com

Basic goods basket

The price of the Salvadoran basic goods basket, a group of foods and vegetables considered essential, rose to all-time high levels in June. The increase was pushed due to the price hikes in vegetables, going over the $260 barrier and reaching $262.17. President Bukele recently expanded the action of the Farmers’ Markets and slashed import […]

Currency Wars Are Brewing: The Seeds of a Global Financial Spiral Are Being Sown

El Salvador Launches Treasury Holdings Site, Confirms Daily Bitcoin Purchases

May 14, 2024 Bitcoin.com

bitcoin treasury

The Bitcoin Office of El Salvador (ONBTC) has launched a site that allows anyone to confirm the treasury holdings of the country, offering a large degree of transparency in its finances. The site, composed as a custom instance of mempool space, a popular block explorer, confirms that the country has been purchasing one bitcoin per […]

Currency Wars Are Brewing: The Seeds of a Global Financial Spiral Are Being Sown

El Salvador Switches Tech Providers — Chooses Alphapoint to Operate Chivo Bitcoin Wallet

February 2, 2022 Bitcoin.com

Alphapoint CEO

On February 2, 2022, the blockchain infrastructure provider Alphapoint has announced that the Salvadoran government has chosen the firm to operate the bitcoin wallet Chivo. The bitcoin wallet is the largest fintech application in the country and Alphapoint “supports the frontend and backend infrastructure that powers the wallet and integrates the entire ecosystem.” Alphapoint to […]

Currency Wars Are Brewing: The Seeds of a Global Financial Spiral Are Being Sown

Salvadoran President Nayib Bukele Taunts Economist Steve Hanke After Bitcoin’s Price Skyrockets

October 17, 2021 Bitcoin.com

Bitcoin (BTC)

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 […]

Currency Wars Are Brewing: The Seeds of a Global Financial Spiral Are Being Sown

Majority of Salvadorans Skeptical of BTC as Currency, Poll Finds

July 9, 2021 Bitcoin.com

Adoption

President Nayib Bukele’s adoption of cryptocurrency as legal tender in his country is not being met with deep understanding by most of his fellow Salvadorans, a new survey suggests. Almost half of the respondents admitted they knew nothing about Bitcoin, while two-thirds aren’t ready to be paid in crypto. Bitcoin Adoption ‘Not at All Correct,’ […]

President Bukele

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