-0.56% Bitcoin (BTC) 91697.8 EUR
+0.55% Ethereum (ETH) 2096.03 EUR
+0.48% Litecoin (LTC) 72.98 EUR
+2.96% B-Cash (BCH) 427.99 EUR
+1.01% Ethereum (ETH) 0.0230785 BTC
+0.76% Litecoin (LTC) 0.00080295 BTC
+3.30% B-Cash (BCH) 0.00466923 BTC
+0.36% Bitcoin (BTC) 108481.4235 USDC
-0.84% USD Coin (USDC) 0.85 EUR
-0.99% Chainlink (LINK) 11.39 EUR
-0.69% Chainlink (LINK) 0.00012437 BTC
-2.65% Dogecoin (DOGE) 0.13 EUR
-2.56% Dogecoin (DOGE) 0.00000152 BTC
-2.61% Uniswap (UNI) 6.01 EUR
-2.55% Uniswap (UNI) 0.00006554 BTC
-3.12% Cardano (ADA) 0.48 EUR
-2.74% Cardano (ADA) 0.00000532 BTC
-0.91% Tron (TRX) 0.23 EUR
-0.38% Tron (TRX) 0.00000256 BTC
-2.17% Shiba Inu (SHIB) 0.00000991 EUR
-5.20% Zcash (ZEC) 34.88 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
-2.44% Arbitrum (ARB) 0.3032 USDC
-0.24% Chainlink (LINK) 13.22 USD
-0.37% Chainlink (LINK) 13.22478 USDC
-1.80% Uniswap (UNI) 6.961 USDC
-3.67% Ondo (ONDO) 0.64 EUR
-3.22% Ondo (ONDO) 0.75194 USDC
-2.25% Gala (GALA) 0.01 EUR
-1.22% Gala (GALA) 0.01372 USDC
+3.19% Wormhole Token (W) 0.05 EUR
+3.88% Wormhole Token (W) 0.0642 USDC
-2.53% Chiliz (CHZ) 0.02 EUR
-1.68% Chiliz (CHZ) 0.0351 USDC
-3.66% Sand (SAND) 0.21 EUR
-2.57% Sand (SAND) 0.2456 USDC
-2.08% Aave (AAVE) 219.62 EUR
-1.30% Aave (AAVE) 256.79 USDC
-11.47% Curve DAO (CRV) 0.43 EUR
-10.47% Curve DAO (CRV) 0.5068 USDC
-4.37% Immutable X (IMX) 0.35 EUR
-2.71% Immutable X (IMX) 0.4117 USDC
0.00% Skale (SKL) 0.07 USDC
+4.42% Beam (BEAM) 0 EUR
+2.85% Beam (BEAM) 0.00541 USDC
0.00% Axelar (AXL) 1.05 USDC
-3.70% Livepeer Token (LPT) 4.84 EUR
-2.88% Livepeer Token (LPT) 5.665 USDC
-3.46% Compound (COMP) 39.02 EUR
-2.70% Compound (COMP) 45.69 USDC
+1.16% Coti (COTI) 0.04 EUR
+1.60% Coti (COTI) 0.0507 USDC
0.00% Portal (PORTAL) 1.1 USDC
-0.90% Sushi (SUSHI) 0.51 EUR
-1.98% Sushi (SUSHI) 0.5885 USDC
-4.87% Pepe (PEPE) 0 EUR
-4.41% Pepe (PEPE) 0.00000952 USDC
-1.92% Optimism (OP) 0.46 EUR
0.00% Polygon (MATIC) 0.2 EUR
-1.60% Solana (SOL) 123.44 EUR
-1.64% Solana (SOL) 0.0013401 BTC
-1.03% Solana (SOL) 0.059551 ETH
-0.36% USD Coin (USDC) 0.73 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

El Salvador's Finance Minister Says Bitcoin Adoption is 'Gaining Ground'

08-01-2022

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.

  • 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.
  • 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.
  • 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.
  • "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.

 

Source: Coindesk