El Salvador President criticizes ‘legacy’ media outlets’ unfair coverage

El Salvador’s president Nayib Bukele criticized “legacy international news outlets” for failing to cover his country’s repayment of its $800 million bond debt in a Jan. 23 Twitter thread. Bukele said that the outlets had extensively predicted that the South American country would default on its debts because of its “Bitcoin bet.” He noted that…

El Salvador buys back sovereign bonds to reduce debt

The Republic of El Salvador has announced that it has completed the second repurchase of its sovereign bonds maturing in 2023 and 2025. According to a press release shared by President Nayib Bukele, the country purchased $74 million worth of government bonds on Dec. 8. In September, the government bought back around $565 million worth…

Morgan Stanley is willing to buy El Salvador bonds despite poor performance

Morgan Stanley has expressed readiness to buy El Salvador bonds despite it being one of the worst performers this year, Bloomberg News reported. According to the report, El Salvador’s $7.7 billion Eurobonds are performing poorly despite having better numbers than countries in a similar position. Simon Waever, a top executive at the bank, reportedly wrote…

Russian minister says crypto to become means of payment ‘soon’

Russia’s minister of industry and trade, Dennis Manturov, believes it’s only a matter of time before crypto becomes a means of payment in the country, Reuters reported. Manturov made the statement at a forum in response to a question about whether crypto could become a legal means of payment, the report said. According to Manturov:…

El Salvador’s over $100 million Bitcoin purchase is now worth $66 million

El Salvador’s Bitcoin (BTC) investment is performing poorly, with the value of the more than 2,000 units it holds falling by about $40 million. The decline in value results from Bitcoin falling to its lowest price in more than a year due to the current market realities. El Salvador’s Bitcoin holdings in red El Salvador…

US Senate considers Bill to limit exposure to El Salvador Bitcoin Experiment

Legislators in the United States appear bent on limiting the impact of El Salvador’s Bitcoin adoption on the country’s financial system. Yesterday, a US Senate Committee passed the “Accountability for Cryptocurrency in El Salvador (ACES) Act” Bill. Though the bill is still up for a vote by the full Senate, indications have emerged that El…

Government of Malaysia proposes Bitcoin, crypto as legal tender

The Communications and Multimedia Ministry of Malaysia proposed today that digital currencies such as bitcoin (BTC) should be adopted as legal tender to help the younger generation who are active users of the currency, especially on non-fungible token (NFT) trading platforms, says Datuk Zahidi Zainul Abidin, deputy minister of the Communication Ministry of Malaysia, reported…

President Bukele predicts Bitcoin to reach 100k, enjoy more adoption

Last year, El Salvador sent a ripple wave through the crypto community when it announced the adoption of the flagship digital asset as a legal tender within its jurisdiction. Since then, the Central American country’s president has been widely hailed by the crypto community as a revolutionist due to his pro-crypto stance, which has won…

El Salvador buys 420 Bitcoin as asset regains $60,000

Many might have seen Bitcoin’s recent price crash as an indication of its volatility but El Salvador’s President saw this as an opportunity to increase the country’s stash of the digital asset. El Salvador buys the dip President Nayib Bukele, in a tweet yesterday, revealed that the Central American country bought 420 additional BTC, which…

ATM data shows Salvadorans interest in Bitcoin (BTC) is rising

A little over a month after El Salvador legitimized Bitcoin as a legal tender within its jurisdiction, and with the value of the flagship asset touching new heights during the weekend, indications have emerged that interest in it has surged drastically in the Central American country. More El Salvadorans are converting their dollars into BTC…