El Salvador became the first country in the world to use bitcoin as legal tender, after having been adopted as such by the Legislative Assembly of El Salvador in 2021. [1] It has been promoted by Nayib Bukele , the president of El Salvador , who claimed that it would improve the economy by making banking easier for Salvadorans, and that it ...

Feb 3, 2025 · Despite these changes, the administration insists it remains committed to bitcoin. Milena Mayorga, El Salvador's ambassador to the United States, has said that El Salvador is still a "bitcoin ...

4 days ago · El Salvador would receive a $1.4 billion loan to support the government’s “reform agenda” Bitcoin-related risks be mitigated; bitcoin acceptance in the private sector must be voluntary, while the public sector’s participation in Bitcoin-related activities would be “confined” (bitcoin can no longer be used to settle government debts or pay taxes)

Feb 2, 2025 · The government, she assured, will continue buying bitcoin and having reserves in this cryptocurrency. According to the National Bitcoin Office, El Salvador has 6,050 bitcoins worth $634.8 million. “President Bukele continues buying bitcoin, we have a Bitcoin Office, we have the Bitcoin Law, bitcoin can be used in El Salvador.

6 days ago · El Salvador’s congress, which is dominated by Bitcoin-loving Bukele allies, agreed. The legislation passed on a vote of 55-2, modified 6 articles of the Bitcoin law, and repealed 3 others.

Dec 6, 2024 · SAN SALVADOR, El Salvador (AP) — As bitcoin reached historic highs, surpassing $100,000 for the first tim e, El Salvador’s President Nayib Bukele was triumphant on Thursday about his big bet on the cryptocurrency.

Dec 5, 2024 · El Salvador made bitcoin legal tender in mid-2021, becoming one of the few countries in the world to do so, and at a time when the No. 1 cryptocurrency was trading at around $36,000.