On June 10, El Salvador was down about $38.1 million on its bitcoin investment. By Friday (June 17), that number had grown to $57.6 million. That’s $19.5 million out of the Salvadoran treasury in the space of a week, thanks to a plummeting bitcoin amid...
Almost year ago Sunday (June 5), President Nayib Bukele announced El Salvador would make bitcoin a legal tender, on par with the U.S. dollar. With bitcoin at $36,000 on that day, things looked even better on the morning of Sept. 7, when the law went...
The International Monetary Fund (IMF) dropped yet another strong hint that it won’t bail El Salvador out of coming debt payments that could lead to a default while bitcoin remains a legal tender in the Central American country. The administration of President Nayib Bukele’s legal...
So, what is bitcoin? By this time, most people know at least a little about bitcoin, the first cryptocurrency, and that there is also Bitcoin the blockchain. And while we’ll get into the basics about both of those, there’s a lot more to Bitcoin’s story...
Sunday was Bitcoin Pizza Day, the annual crypto industry holiday celebrating the first known use of bitcoin as a payments currency. And while it’s usually celebrated largely trying to find a pizzeria that will take crypto payments and reminding the buyer just how rich he’d...
Billions in bitcoin, bought as a reserve by the Luna Foundation Guard (LFG), a foundation set up by the failed Terra blockchain, is now untraceable after being moved to two crypto platforms, Bloomberg wrote Saturday (May 14). LFG reportedly bought $3.5 billion of bitcoin between...
Given the unpopularity and slender use of bitcoin as a currency in El Salvador, you’d think that President Nayib Bukele’s decision to spend another $15 million of the nation’s treasury buying more bitcoins on Monday (May 9) — right as the crypto market began to...
There’s a lot of attention being paid to bitcoin’s collapsing price today as it dipped below $31,000. And with good reason. As recently as a week ago, bitcoin pundits were wondering if it was going to push back above $40,000. Now, they’re talking about whether...
The bitcoin-boosting president of El Salvador, Nayib Bukele, has bet the house on the first cryptocurrency. First by making it legal tender and then staking the country’s reputation on the bond market by announcing a bitcoin bond with low interest and a big upside if...
