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El Salvador’s Bitcoin reserves got bigger today with a new purchase. The country also gave Bitfinex a crypto license to work there. The country’s rules about crypto and its use of Bitcoin make it a leader in Latin America’s digital money world. The government wants more people to use banking and help the economy grow. Also Read: IRS Shocker: Taxes Are “Voluntary” and Crypto Rules Delayed to 2026 Bitcoin Adoption And Crypto Regulations In El Salvador: How Bitfinex’s Crypto License Impacts The Market Source: Watcher Guru El Salvador Expands Bitcoin Holdings The government added to El Salvador’s Bitcoin reserves with its latest big purchase. President Bukele said, “The country’s Bitcoin strategy aims to attract foreign investment, boost tourism, and provide innovative opportunities for local businesses.” Since making Bitcoin legal money in September 2021, these cryptocurrency regulations have changed how money works in the country. Bitfinex ...

El Salvador Bitcoin has reached a new milestone with over 6,000 BTC in holdings. Their Bitcoin investment has earned $157 million in profits. The country bought these coins at an average price of $45,465. President Bukele’s team keeps buying Bitcoin daily, even after the IMF asked them to slow down. This move shows how serious the country is about cryptocurrency regulation and changing how money works. Source: bitcoin.gob.sv Also Read: How High Will Bitcoin Rise In January 2025? El Salvador’s Bitcoin Strategy: Understanding Crypto Investment, Risks, and Regulation Source: Watcher Guru Record-Breaking Bitcoin Portfolio Source: TradingView El Salvador’s latest Bitcoin purchase happened at $94,702 per coin. With this buy, their total Bitcoin investment grew to 6,001.77 BTC, which is now worth more than $570 million in real money. The government’s buying plan makes them the sixth biggest country owner of Bitcoin in the world. Countries like the United States, the Uni...

The collapse of multiple projects and the market crash made investors dubious of pouring their funds into the crypto-verse. While speculations of Bitcoin being dead begun surfacing, a major Bitcoin bull did not lose hope. El Salvador shocked the entire globe by accommodating BTC as a legal tender. Despite the asset’s plummet below $16K, El Salvador was looking to expand its holdings. In a recent tweet, El Salvador ’s President Nayib Bukele announced that the government would start purchasing one BTC every day. We are buying one #Bitcoin every day start ing tomorrow . — Nayib Bukele (@nayibbukele) November 17, 2022 Bitcoin survived Covid-19 as well as the infamous de-pegging of TerraUSD. However, the FTX collapse caused havoc in the market pushing the king coin to a two-year low. 6.5 million Salvadorans, who trusted their President with pouring public finances into Bitcoin grew wary. As per Ricardo Castaneda, an economist at the Central American Institu...

Source: AdobeStock / Milosz Maslanka Just above three-quarters of surveyed Salvadorians reportedly see the adoption of bitcoin (BTC) as a failure. According to the poll by the University of Central America (UCA), as reported by Barron’s, 77% of respondents consider the BTC adoption as legal tender in 2021, alongside the dollar, "to have been a failure." 75.6% of respondents said they haven’t used crypto in 2022 at all. The UCA rector Andreu Oliva, commenting on the results of the study, was quoted as saying that, “Bitcoin is the government's most unpopular measure, the most criticized and the most frowned upon.” The UCA study also found that 77% of Salvadorans think that President Nayib Bukele "should not continue to spend public money to buy Bitcoin." In July this year, Bukele announced that the country had bought yet another “dip” – purchasing BTC 80 at a price of USD 19,000 per coin. It appears that Bukele has authorized ...