Salvador’s / 3 posts found

El Salvador’s Bitcoin experiment ‘resembles’ a government digital currency, says ex-central banker

El Salvador’s Bitcoin experiment ‘resembles’ a government digital currency, says ex-central banker

Bitcoin Andrés Arauz doesn’t fit the bill of a typical former central bank director. Just 37 years old, the Ecuadorian economist and politician is a member of the left-wing Progressive International party and recently joined the privacy infrastructure company Nym as a special adviser—returning to the private sector after coming within a few hundred thousand votes of the Ecuadorian presidency in 2021.   While his counterparts at central banks across the world fret over the rise of digital currencies, Arauz has long been an advocate. During the global financial crisis in 2009, he helped design a state-managed digital money system […]
El Salvador’s crypto-loving president is hosting the Davos for Bitcoin with more than 40 countries represented

El Salvador’s crypto-loving president is hosting the Davos for Bitcoin with more than 40 countries represented

Bitcoin Davos for Bitcoin hosted by El Salvador’s president kicks off with more than 40 countries attending | Fortune You need to enable JavaScript to view this site. Read More
The Value of El Salvador’s Bitcoin Holdings Drops by $40B Due to the Ongoing Crypto Market Pullback

The Value of El Salvador’s Bitcoin Holdings Drops by $40B Due to the Ongoing Crypto Market Pullback

Cryptocurrency Summary: El Salvador’s Bitcoin holdings have lost value by roughly $40 million This amount is almost equal to El Salvador’s next coupon payment on its debt for the month of June, worth $38.5 million However, President Bukele has an 85% approval rating President Bukele also shared plans for the country’s Bitcoin City El Salvador’s Bitcoin holdings have been hard hit by the ongoing crypto market pullback that has seen Bitcoin lose several support zones in one week, from $38k to the local low of $26,700 set yesterday, May 12th. According to a report by Bloomberg, El Salvador’s Bitcoin holdings […]