Cryptocurrency Analysis and News Portal
El Salvador has now marked its 10th day of bitcoin being legal tender in the country. This is a huge milestone that could not have been predicted to happen this soon. But as with bitcoin, everything is happening on an accelerated timeline. The country had introduced its own government-backed crypto
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All of the ‘Big Three’ credit agencies have said that El Salvador’s adoption of bitcoin could affect the country’s credit rating in a negative manner. After both Moody’s and Fitch Ratings published reports on the matter in El Salvador, S&P Global said that the bitcoin adoption has had “immediate negative
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Credit rating agency Standard and Poor (S&P) Global believes the country of El Salvador has severely harmed its credit rating after enacting its Bitcoin Law recognizing BTC as legal tender nationwide on Sept. 7.According to a Sept. 16 report from Reuters, El Salvador’s Bitcoin embrace exposes its economy to significant
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The mystery of the Chivo wallet persists. And Bitso comes into the picture as part of a more credible report confirmed through official channels. It seems like NewsBTC was right to doubt Forbes’s article about BitGo being behind the Chivo wallet. This Reuters report, on the other hand, comes with
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The Republic of El Salvador has made many headlines this week as the country adopted bitcoin as legal tender on Tuesday and became the first-known nation-state to purchase the leading crypto asset. A recent report details that remittance providers like Moneygram and Western Union could lose up to $400 million
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El Salvador’s move to embrace Bitcoin has ruffled the feathers of bond investors, with yields spiking as investors signal uncertainty for the emerging economy.A Wednesday report published by Bloomberg notes that recently, the yield curve on El Salvador’s bonds has inverted, meaning bonds with short-term maturities are now yielding more than
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Bitcoin’s price plummeted over 10% on early Tuesday, as El Salvador announced that it would officially accept the major cryptocurrency as the nation’s legal tender. According to CoinMarketCap, Bitcoin’s slump from Monday accelerated as the crypto failed to hold its $50,000 price level — sliding from $51,000 to $44,700 within a
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Bitso, a major cryptocurrency exchange in Latin America, will be the core crypto service provider for El Salvador’s official Bitcoin (BTC) wallet known as Chivo.In conjunction with Bitcoin becoming legal tender in El Salvador, Bitso announced on Sept. 7 that the firm would assist El Salvador in launching the state-supported
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The day is here. In a few hours, El Salvador’s Bitcoin Law goes into effect. We will have the first real-world example of a whole nation using the hardest money ever created as legal tender. And, how is the Bitcoin community celebrating? Stack sats, obviously. The order is for everyone
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The Central American Bank for Economic Integration (CABEI) has identified remittance as an important aspect of El Salvador’s Bitcoin (BTC) adoption policy.According to Reuters on Tuesday, the regional development bank expects other Central American nations to pay close attention to Bitcoin’s impact on remittance costs in El Salvador.Speaking to Reuters,
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