El Salvador - Bitcoin News Related To El Salvador

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El Salvador Bitcoin ‘Scalpers’ Force App Turnaround as Chivo Criticism Continues

Published on october 18, 2021

The government of El Salvador has come under scrutiny again for its Chivo bitcoin (BTC) app and wallet – after its operators temporarily froze price viewing on Chivo to stave off “scalpers.”
In a series of tweets on Monday, the official Chivo Twitter account explained:
“We had to temporarily disable the option to see bitcoin prices frozen for one minute. Unfortunately, many of our users were using it for scalping.”…
Read More: El Salvador Bitcoin ‘Scalpers’ Force App Turnaround as Chivo Criticism Continues

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

Published on october 17, 2021

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 […]

Corporations & Countries Watch and Learn From El Salvador's Bitcoin Experiment

Published on october 17, 2021

It has now been more than a month since El Salvador officially began enforcing a law making bitcoin (BTC) legal tender within the Central American country. Much has been of the rapidity with which this law was proposed and then passed, with protests suggesting that at least some of the local population didn’t really agree with President Nayib Bukele’s plans to turn El Salvador into a Bitcoin nation….
Read More: Corporations & Countries Watch and Learn From El Salvador’s Bitcoin Experiment

Reports of Fraud Mar El Salvador’s Bitcoin Journey

Published on october 15, 2021

In a week that saw bitcoin rocket to near previous highs, El Salvador’s own grand experiment with embracing the crypto as legal tender seems to be getting some pushback. At this writing, bitcoin is trading at more than $61,000, well within highs of roughly $64,000. But the mechanics of getting bitcoin more firmly entrenched into El […]

Bank of Spain Criticizes El Salvador’s Foray Into Bitcoin

Published on october 12, 2021

The Bank of Spain, the central bank of the country, criticized the adoption process El Salvador chose when declaring Bitcoin legal tender last month. In a report titled “The role of crypto assets as legal tender: the example of El Salvador,” the bank examines several pain points the country encountered while applying its bitcoin strategy, […]