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El Salvador takes advantage of Bitcoin slip to make huge purchase

Nayib Bukele, President of El Salvador, purchased the Bitcoin (BTC) dip again and invested more than $5 million in Bitcoin, as the price fell below $54,000 on Friday. El Salvador’s president tweeted Friday that he purchased 100 BTC after a global market selloff due to the discovery of a COVID-19 variant in South Africa. Data […]

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El Salvador’s Bitcoin City close to being inaugurated

El Salvador is still leading the Bitcoin (BTC) adoption drive. President Nayib Bukele announced the launch of Bitcoin City. It will be funded initially with $1 billion in Bitcoin bonds. Bitcoin City will be developed with the active participation of prominent crypto companies such as Bitfinex and Adam Back’s Blockstream. Bukele announced the initiative at […]

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Protestors set cryptocurrency ATM on fire in El Salvador

Bitcoin opponents and those fighting the approaches of El Salvador President Nayib Bukele have obliterated a cryptocurrency ATM in the country’s capital city. Media source Teleprensa and others posted recordings via social media showing a Chivo-supported teller in San Salvador consumed by flames in the midst of a horde of columnists and dissenters on Wednesday. […]

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Cryptocurrency investors won’t pay capital gains tax in El Salvador

El Salvador will purportedly absolve financial investors from paying capital gains and income taxes on Bitcoin (BTC), per official legal guidance. Javier Argueta, a legal counsel to President Nayib Bukele, is hoping to empower foreign investment through significant tax cuts on BTC, according to French media outlet Agence France-Presse. In the event that an individual […]

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El Salvador appears ready to embrace Bitcoin as legal tender

During the Bitcoin 2021 conference last week, the president of El Salvador, Nayib Bukele, made an appearance. Not in person, but through a recorded video message that has the cryptocurrency community busy trying to figure out what’s next. Bukele announced that El Salvador could soon pass legislation that would make Bitcoin (BTC) legal tender in […]

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