Bitcoin plunged as much as 31% on Wednesday, wiping out more than $500 billion in value from the cryptocurrency’s peak market value before paring losses later — extreme swings that caused outages on major crypto exchanges.
Bukele said he would discuss his plans with the International Monetary Fund on Thursday. He denied that the move was an attempt to de-dollarize the economy.“The objectives of having the U.S. dollar as legal tender are replicated on steroids with bitcoin,” he said. “It’s going to help having both currencies as legal tender.”
Bitcoin and other popular digital currencies, including Ethereum and Dogecoin, all rose on Wednesday according to the tracking site CoinDesk. Bitcoin, which climbed above $60,000 early this year, was up 10% to $36,050. U.S. officials have said bitcoin was used to pay the ransom in the cyberattack of Colonial Pipeline that caused the operator of the nation’s largest fuel pipeline to halt its operations last month.
Good for them. Very smart move
El Salvador needs to clean up their country is what they need to do
This guy is reportedly a real dangerous nutter....
(It would.....)
Whoa, elonmusk 😮
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El Salvador aprueba el bitcoin como moneda de curso legalEl presidente Nayib Bukele afirma que la norma traerá inclusión financiera, inversión, turismo, innovación y desarrollo económico
Source: latimes - 🏆 11. / 82 Read more »
El Salvador makes Bitcoin legal tenderSAN SALVADOR, El Salvador (AP) — El Salvador’s Legislative Assembly has approved legislation making the cryptocurrency Bitcoin legal tender in the country, the first country to do so, just days after President Nayib Bukele made the proposal at a Bitcoin conference. Good Many African central and south American Nations shall follow. This is what I feared. Cannot have one currency throughout the world, makes it too easy for crazy people to think they can take over everything. The dollar won’t last another decade as the worlds “reserve currency”.
Source: AP - 🏆 728. / 51 Read more »
El Salvador makes bitcoin legal tender in world first'It will bring financial inclusion, investment, tourism, innovation and economic development for our country,' President Nayib Bukele tweeted. 🙄
Source: NBCNews - 🏆 10. / 86 Read more »
El Salvador Makes History As World’s First Country To Make Bitcoin Legal TenderI am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com Scary History created, others will follow. Since only the president, his family, friends and entourage can have them, what a great idea. Is it not the poorest country in the world with the highest per capita murders!? Lol. Sure everyone that is corrupt in El Salvador is thrilled with the policy
Source: Forbes - 🏆 394. / 53 Read more »
El Salvador becomes first country to adopt bitcoin as legal tenderJUST IN: El Salvador becomes the first country to adopt bitcoin as legal tender after lawmakers voted by a “supermajority.' Bitcoin is good for criminals because it is untraceable and easy to transfer The best choice I've made this year was investing in cryptocurrency and forex trading and earning from home. With the help of micheal33590 I've been earning $ 23k weekly I've never regretted this decision. 🙏🏻🙏🏻 Who cares what your third cousin on your mothers side is up to
Source: NBCNews - 🏆 10. / 86 Read more »
El Salvador is the first country to adopt bitcoin as legal tenderEl Salvador has become the first country to adopt bitcoin as legal tender. Why not .. their currency is worthless. God Bless El Salvador YourAnonCentral OpCanary keep note. Right cause anybody in El Salvador can afford the $40000 per coin.
Source: CNN - 🏆 4. / 95 Read more »