Tag: El Salvador President
Nayib Bukele is assured BTC will see beneficial properties on the again of impending shortage
Nayib Bukele believes that the worth of Bitcoin will quickly rocket El Salvador’s Minister of Finance has responded to the IMF’s calls for to drop Bitcoin as a authorized foreign money El Salvador President Nayib Bukele has as soon as once more publicly expressed his bullish view on Bitcoin, predicting that in “just a matter […]
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This Week in Coins: Bitcoin, Ethereum, Avalanche, Dogecoin Recover
Turkey President Tayyip Erdoğan Orders For Metaverse Research
Speculations were ripe that Turkey would reveal its crypto policy after El Salvador President visited Turkey last week. Both the presidents and Turkey ruling party officials met earlier this week to discuss the metaverse, with the president calling for comprehensive research on the subject reports Yahoo!. Turkey President Erdoğan has reportedly asked the ruling party
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Bitcoin Bulls Continue to Double Down on $100,000 Prediction
President Nayib Bukele Wears McDonald’s Uniform in Twitter Profile Picture Days after Acquiring More BTC amid Decline
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Bitcoin Price Analysis: This Descending Trendline Breakout Is Must to Keep Bitcoin Bull Run Intact
The continuous sell-off in the crypto market has wiped off more than $1 trillion in value. The BTC price has also dropped below the $40000 support, threatening more fall in the upcoming session. El Salvador president Nayib Bukele has purchased more 410 Bitcoin at around $36500 price, which is worth $15 Million. Key technical points:
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El Salvador Just Bought 410 BTC for $15M
The president of El Salvador, Nayib Bukele announced the purchase of 410 Bitcoin (BTC) for $15 million in the midst of a day of sharp declines in the cryptocurrency markets, as the flagship cryptocurrency trades below $37,000, last seen during July 2021. “I was wrong, didn’t miss the Bitcoin dip. El Salvador just bought 410 BTC for only 15 million dollars, Some guys are selling really cheap,” Bukele said in a Tweet on Friday. Nope, I was wrong, didn’t miss it. El Salvador just bought 410 #bitcoin for only 15 million dollars 🥳 Some guys are selling really cheap 🤷🏻♂️ https://t.co/vEUEzp5UdU — Nayib Bukele 🇸🇻 (@nayibbukele) January 21, 2022 With the latest addition, the total Bitcoin holding of El Salvador stands at 1801 BTC, currently valued at about $66 million. A few hours before the announcement, news was also revealed that the government of El Salvador has planned on offering small and medium-sized companies (SME) for $10 million in crypto loans during the first quarter of 2022. Acumen, a Solana-based lending platform, will be financing the initiative of the National Commission for Micro and Small Businesses (CONAMYPE) with an annual interest between 6 percent and 7 percent with a maximum of 10 percent. The platform will use stablecoins like USDC or USDT to Conamype which would then distribute to entrepreneurs through Banco Hipotecario, a government-owned bank. The entrepreneurs would then pay the loan and its interest in the U.S. dollars to the Mortgage Bank, which would then be in charge of paying the debt to Acumen. In September, El Salvador became the first country in the world to adopt bitcoin as legal tender despite criticisms from global financial institutions like the IMF and World Bank. After the acceptance of BTC, the country announced tax exemption for foreign investors on BTC profits. The President of El Salvador later pledged to build a tax-free Bitcoin City for certain crypto investors in addition to establishing geothermal bitcoin mining facilities to make the Central American country a global crypto mining hotspot.
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Second Consecutive Crash Day Extends Investor Loses Over $350 Billion, El Salvador Buys the Dip
On Frida, January 21, the broader cryptocurrency market extended further losses tanking another 8%. This is the second consecutive day of heavy selling in the crypto space as investors lose more than $350 billion in cumulative wealth. As of press time, Bitcoin is down 7.38% and is currently trading at $36,611 with a market cap
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On The Ground In El Salvador With Samson Mow And The Volcano Bitcoin Bond
Will El Salvador default on its debt because of Bitcoin? Markets say yes
Investors betting that El Salvador will default over the next five years have more than tripled credit swap prices since it adopted Bitcoin.
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Moody’s Confirms El Salvador’s Ratings Unchanged After President Bukele’s Reactive Tweet
El Salvador President Nayib Bukele took on Twitter on Sunday, January 17, responding to a warning from rating agency Moody’s. However, Moody’s has confirmed that the Central American country’s ratings remain unchanged. President Nayib Bukele Tweeted: “BREAKING: EL SALVADOR DGAF” which means “don’t give a fuck”. President Bukele was responding to a tweet from Investing.com.
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