El Salvador's Finance Minister Says Bitcoin Adoption is 'Gaining Ground': Report
El Salvador’s finance minister says that adoption of bitcoin as legal tender is working despite the over 50% losses incurred by the government, according to a report. By JamieCrawleyCD
Alejandro Zelaya said that bitcoin adoption has been beneficial to El Salvador’s unbanked population.
Alejandro Zelayasaid in an interview with Bloomberg on Wednesdaythat bitcoin adoption has been beneficial to El Salvador’s unbanked population and also attracted tourism and investments.”It’s a phenomenon that exists and is gaining ground and will continue to be around in the coming years,” he said.
From September last year to the start of this month, El Salvador has purchased 2,301 BTC for a total of $103.9 million. As of the start of July,its portfolio was worth $46.6 million, a decline of over 55%. With the recent uptick in the crypto markets, the portfolio is now worth around $55.3 million.
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El Salvador’s adoption of bitcoin (BTC) as legal tender is working despite the over 50% losses the government has incurred on its purchases, the country’s finance minister said.01:53 The city of El Segundo Wednesday joined other local cities in saying it will not enforce an indoor mask mandate if it is implemented on Thursday..Print EL CAJON — A man was arrested on suspicion of driving under the influence of drugs Wednesday night after allegedly driving onto a sidewalk and striking a 20-year-old pedestrian who later died, police said.
Alejandro Zelaya said in an interview with Bloomberg on Wednesday that bitcoin adoption has been beneficial to El Salvador’s unbanked population and also attracted tourism and investments.”It’s a phenomenon that exists and is gaining ground and will continue to be around in the coming years,” he said.A. From September last year to the start of this month, El Salvador has purchased 2,301 BTC for a total of $103.9 million. “Individuals should review the data available and consider their own circumstances and make their own decisions about wearing a mask. As of the start of July, its portfolio was worth $46. The 22-year-old motorist continued driving north, colliding with a traffic signal light and a street sign.
6 million, a decline of over 55% .” During a special meeting Tuesday night the city council voted against enforcing the possible order. With the recent uptick in the crypto markets, the portfolio is now worth around $55.3 million. “The (Long Beach) Health Department strongly encourages people to practice personal responsibility and common-sense measures to protect themselves, their loved ones and the greater community from COVID-19,” according to a statement from Long Beach. El Salvador has faced criticism from mainstream financial institutions for its crypto adoption. In January, the International Monetary Fund (IMF) urged the country to discontinue bitcoin’s legal tender status.” On Thursday, the county Los Angeles County Department of Public Health is expected to announce whether an indoor mask mandate will return or not. He was arrested and later booked into the San Diego County Jail on multiple charges, police said.
“New technologies have shown how people in previous years were afraid of things like websites and digital business, but it’s been show through time that reality imposes itself,” Zelaya added. El Salvador had plans earlier this year to introduce a $1 billion bitcoin bond but postponed it in March due to unfavorable market conditions. Zelaya said that the government will revisit this once conditions improve. Read more: .
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