A clause in the country's recently-completed IMF financing deal suggested a prohibition against El Salvador accumulating any additional bitcoin.
The IMF said bitcoin usage remains marginal in El Salvador, with minimal circulation as a payment method due to its high price volatility and low public trust.
El Salvador has introduced a new artificial intelligence (AI) law to foster innovation while ensuring responsible development and regulatory oversight. On Feb. 28, the country’s National Bitcoin Office confirmed the legislation’s approval, highlighting its role in integrating AI into key sectors while maintaining data security and ethical standards. This new legal framework establishes clear guidelines […]
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El Salvador and Tokyo-listed Bitcoin treasury firm Metaplanet have taken advantage of BTC’s recent price drop to expand their investments in the leading crypto. This move comes as Bitcoin’s value fell to a three-month low below $90,000 due to a broader market downturn that resulted in over $1 billion in liquidation. El Salvador boosts Bitcoin […]
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The Central American nation is on a roll. This year’s Plan B conference was electric, featuring famous speakers from abroad as well as native Spanish content.
El Zonte inspired Bukele to make bitcoin legal tender in El Salvador. CoinDesk visited the surfing village to see how it’s developing.
President Nayib Bukele vowed to build Bitcoin City on the Conchagua volcano. CoinDesk went looking for signs of construction.
Berlín, a city of 20,000 people, is home to El Salvador’s second Bitcoin circular economy. “Bitcoin City already exists. It’s called Berlín,” said one resident.
Menendez is a former senator from New Jersey and a Democrat.
El Salvador started accumulating BTC under Bukele's leadership, fueling speculation about Trump's strategic reserve promises.
A positive feedback loop is being created between El Salvador’s bitcoin education programs and crypto companies looking for a friendly jurisdiction.
“For the moment we need regulatory clarity and guidance,” says Tether CEO Paolo Ardoino.
Tether, the leading stablecoin issuer, is finalizing its plans to move its global headquarters to El Salvador after obtaining a Digital Asset Service Provider (DASP) license, according to a Jan. 13 statement. Tether explained that El Salvador, the first nation to adopt Bitcoin as legal tender, has positioned itself as a global hub for digital […]
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The stablecoin behemoth is setting up shop for the group and its companies in the nascent crypto hub.
Tether is moving its operations from the British Virgin Islands to El Salvador after being granted a Digital Asset Service Provider license.
Bitfinex Derivatives has taken a big step forward by getting a Digital Asset Service Provider (DASP) license in El Salvador. With this move, the platform can now offer more derivatives trading services in Latin America. With this license, Bitfinex plans to take advantage of El Salvador’s support for crypto to set up shop in the […]
Since making Bitcoin a legal tender in 2021, the El Salvador government, led by President Nayib Bukele, has pursued a consistent strategy of accumulating Bitcoin. This Bitcoin accumulation strategy, which has largely paid off, has continued up until now. According to recent data, El Salvador has now crossed the 6,000 BTC threshold. This makes El Salvador the sixth country behind the likes of the US, the UK, and Bhutan to hold 6,000 BTC or more. El Salvador’s Bitcoin Strategy Reaches New Milestone Unlike countries like the US and the UK, whose Bitcoin holdings are from seized assets from criminals, El Salvador’s Bitcoin holdings have been through consistent purchases. Notably, El Salvador’s deliberate and consistent approach to building a Bitcoin reserve has been a cornerstone of President Bukele’s vision to establish the small Central American country as a leader in the crypto industry. Related Reading: Is Bitcoin Ending 2024 On A High Note? Analysts Say This Level Is Key According to data from the official website of El Salvador’s Bitcoin portfolio tracker, the country added another BTC to its reserve in the past 24 hours. This BTC was acquired at $94,702 and essentially pushed the total holdings to 6,000.77 BTC. Interestingly, a detailed look at the data shows that El Salvador has purchased around 50 more BTC since the beginning of December. This growth has mostly been consistent with 1 BTC purchased each day, except for December 20 and December 22, which were highlighted by purchases of 11 BTC. At the time of writing, El Salvador’s Bitcoin stash is worth a little over $570 million. This value has grown massively in the past three months and could grow more in 2025. Particularly, El Salvador’s Bitcoin portfolio reached a peak value of $643 million on December 17 when the Bitcoin price peaked at $108,135. Image from bitcoin.gob.sv Outlook For El Salvador’s Bitcoin Stash Despite initial skepticism from international organizations and financial experts, this strategy appears to have yielded positive results over time, largely due to Bitcoin’s price surge this year. According to data from nayibtracker.com, El Salvador is currently sitting on $157 million in profit from its Bitcoin purchases, having bought its 6,000 BTC at an average price of $45,465. El Salvador’s first Bitcoin purchase was made in September 2021 and is currently showing no signs of stopping soon. However, the country did reach an agreement recently with the IMF to scale back its Bitcoin purchase trends in order to be able to secure funding. Although this agreement was made on December 18, El Salvador doubled down and bought 11 more BTC just days later. Related Reading: CME Gap Threatens Bitcoin With Potential Drop To $77,000 – Analyst At the time of writing, Bitcoin is trading at $95,030. Technical analysis suggests that the cryptocurrency is on track to reach new highs by 2025, with peak price targets ranging from $150,000 to $1 million. This, in turn, is going to allow the value of El Salvador’s Bitcoin portfolio to keep growing. Featured image from Getty Images, chart from TradingView
A country in Central America continued to invest in Bitcoin as the nation beefed up its BTC reserves to more than $500 million. El Salvador purchased additional coins to increase its holdings to over 6,000 units, allowing the Central American country to join the 6,000 Bitcoin club. Related Reading: Solana Co-Founder Faces Legal Heat From […]
El Salvador showcased its Bitcoin achievements during a meeting between Vice President Félix Ulloa Jr. and Zhang Yanhui, the Ambassador of the People’s Republic of China. On Dec. 23, Vice President Ulloa emphasized how Bitcoin has transformed El Salvador into a symbol of financial freedom. He noted that the country’s state reserves now include over […]
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El Salvador is accelerating its Bitcoin acquisition strategy, even as it scales back specific policies following an agreement with the International Monetary Fund (IMF). On Dec. 20, the country’s National Bitcoin Office announced the purchase of 11 BTC for about $1 million. This acquisition adds to its daily purchase of 1 BTC, bringing the total […]
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El Salvador purchased 11 Bitcoin only a day after reaching a $1.4 million IMF loan deal that called to reduce public sector engagement in “Bitcoin-related economic activities.”
The country's concessions include that taxes must be paid in U.S. dollars, not bitcoin, and bitcoin acceptance will be made voluntary in the private sector.
El Salvador has agreed to adjust its Bitcoin policies as part of a $1.4 billion loan arrangement with the International Monetary Fund (IMF), according to a Dec. 18 statement. The global financial regulator stated that it had reached a staff-level agreement with El Salvador on a 40-month Extended Fund Facility (EFF). The funds aim to […]
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El Salvador’s struck a loan deal with the IMF and will make Bitcoin acceptance voluntary and roll back government involvement in Bitcoin-related projects.
Analysts reported that a South American country is among the Bitcoin investors who greatly benefit from the Donald Trump-fueled crypto bull market as its digital asset portfolio reaches new heights. The value of El Salvador’s Bitcoin holdings soared to $632 million after the firstborn crypto hit a new all-time high of $106,488 per coin. Related […]
European Union Member of Parliament Sarah Knafo has urged the bloc to prioritize a Strategic Bitcoin Reserve instead of moving forward with the European Central Bank’s (ECB) digital euro project. In a Dec. 17 video shared on X, Knafo criticized the ECB’s plan for a centralized digital currency, arguing it risks financial freedom and overreach. […]
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El Salvador has authorized Bitget to provide Bitcoin services in the country. The exchange is now seeking further approval to support more tokens.
El Salvador’s Central Reserve Bank has officially granted Bitget a Bitcoin Service Provider (BSP) license, according to a Dec. 16 statement shared with CryptoSlate. This move grants the exchange legal authorization to facilitate Bitcoin-related services in the country, including converting Bitcoin to fiat currencies, processing Bitcoin payments, and securely managing Bitcoin custody. Meanwhile, the company […]
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El Salvador partners with Argentina to strengthen the digital assets industry, with talks underway with over 25 nations for similar partnerships.
Regulators from both countries are looking to collaborate to foster crypto innovation.