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Crypto crash could see El Salvador default on debt payments

TechSpot

Bitcoin became an official currency alongside the US dollar in El Salvador last year. El Salvador also faced pushback from. The move has proved controversial: many citizens feared the volatility of BTC would make the country's economic problems even worse, and the government's wallet app has proved far from reliable.

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El Salvador becomes first country to adopt Bitcoin as an official currency

The Verge

As of today, Bitcoin is an official currency of El Salvador alongside the US dollar, after the Central American country became the first to adopt the cryptocurrency as legal tender. CNBC notes that the move makes El Salvador the first country to officially have Bitcoin on its balance sheet and to hold it as part of its reserves.

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El Salvador reveals plans to build Bitcoin city

TechSpot

El Salvador president Nayib Bukele unveiled plans to build the "Bitcoin City" along the Gulf of Fonseca, between La Unión and Conchagua. Speaking at a promotional Bitcoin event in the coastal town of Mizata late on Saturday, Bukele said it would include residential areas, commercial areas, services, museums, entertainment, bars,

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The World Bank refuses to help El Salvador's Bitcoin implementation

TechSpot

Earlier this month, El Salvador became the first country to adopt Bitcoin as legal tender. It sits alongside the US dollar as the Central American country's official currency, with the exchange rate freely established by the market. Additionally, prices for goods can be shown in Bitcoin, tax contributions can be.

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Bitcoin fell $10,000 on first day as El Salvador's official currency

TechSpot

Just a few months after adopting Bitcoin as legal tender, it became an official currency of El Salvador yesterday. It's hoped that the move will make it easier for the huge number of El Salvadorians living abroad to send money home to their families—the government says Bitcoin could save the.

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Bitcoin becomes an official currency in El Salvador alongside the US dollar

TechSpot

El Salvador has become the first country to officially adopt Bitcoin as legal tender.

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El Salvador "bought the dip," added 150 Bitcoins to its holdings

TechSpot

El Salvador saw this as the perfect opportunity to time the market. Just one day into the experiment, which officially started on September 8, Bitcoin fell from more than $53,000 to around $46,500 according to Coindesk. Value recovered a bit over the past week and a half, but slid again over the weekend.