El Salvador Financial News

As Bitcoin continues to shape the cryptocurrency landscape, its influence extends to altcoins like Solana (SOL), which recently rebounded from the $170 mark, hinting at a potential end to the recent sell-off.

Lord Buddha, along with those of his disciples Arahant Sariputta and Arahant Maha Moggallana, after 26 -days returned to the National Museum in Delhi on March 19 and was open to brief exposition to the New Delhi based diplomatic corps on March 20. Minister of State for External Affairs Meenakshi Lekhi participated in the ceremony of prayers and chanting in the presence of representatives of the diplomatic corps from 15 countries. Those present on the occasion were Kshenuka Dhireni Senewiratne, High Commissioner of Sri Lanka; Pattarat Hongtong Ambassador, Thailand; Yasiel Alines Burillo Rivera, Ambassador of Panama; Vahagn Afyan, Ambassador of Armenia; Kenneth da Nobrega, Ambassador of Brazil; Guillermo Rubio Funes, Ambassador of El Salvador; Moe Kyaw Aung, Ambassador of Myanmar; Colin Kao, Deputy Director of the Division, Taipei Economic and Cultural Centre in India and senior diplomats from Indonesia, Bhutan, Myanmar, Romania, Peru and Serbia.

El Salvador nicknamed "Bitcoin Beach," shopkeeper Maria Aguirre watched with delight as the cryptocurrency — and her investment in it — recently soared to new all-time highs. The digital currency that she acquired four years ago for $2,200 is now worth around $19,000, she said.

El Salvador's President Nayib Bukele said Thursday that his country has stored more than $400 million in bitcoin in an offline "cold wallet" as the cryptocurrency forges new record highs. «We've decided to transfer a big chunk of our bitcoin to a cold wallet, and store that cold wallet in a physical vault within our national territory,» Bukele said on social media site X.

El Salvador moved over 5,000 bitcoins valued at over $400 million into a cold wallet this week, President Nayib Bukele revealed in a March 14 X post.

El Salvador’s Bitcoin (BTC) investment strategy is paying off handsomely, with the country now enjoying a remarkable 70% profit on its dollar-cost average purchase price. 

El Salvador – one of the smallest and most densely populated countries in Central America – may eventually become one of the wealthiest countries in the world because of its Bitcoin holdings.

President Nayib Bukele responded humorously to a social media post on March 7, highlighting the legal troubles of one of his country’s prominent critics in Capitol Hill. Bukele quoted a post on X (formerly Twitter) with a laughing emoji.

El Salvador’s President Bukele defended his Bitcoin strategy as the country’s holdings hit a record 53% profit, reaching $164.7 million when Bitcoin hit a new all-time high of $69,200 on March 4. This progress stems from El Salvador’s declaration of Bitcoin as legal tender alongside the US dollar in 2021.

El Salvador does not have plans to sell its Bitcoin (BTC) reserves at present, the pro-crypto nation’s President Nayib Bukele confirmed Wednesday.

Get your daily, bite-sized digest of blockchain and crypto news – investigating the stories flying under the radar of today’s news.

A weekly round up of cryptocurrency market news, why that matters to you and what it means for crypto investors in the coming days.

Lionel Messi's Inter Miami are taking on Al-Hilal today in Riyadh Season Cup in Saudi Arabia. Miami, the Major League Soccer (MLS) club has embarked on the worldwide preseason tour. After playing Al-Hilal, they will take on Cristiano Ronaldo's Al-Nassr.

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

The future of money is digital and many countries are developing their own Central Bank Digital Currencies (CBDC). This in turn will have far-reaching implications on society, businesses, and banks, as the use of physical cash declines.

The digital asset market has seen astronomical growth over the past few years, with cryptocurrencies like Bitcoin cementing their place in the financial mainstream. Major milestones like Bitcoin’s market capitalization crossing $1 trillion and El Salvador adopting it as legal tender signal a broader embrace of decentralized finance. This mainstream acceptance peaked last week with the highly anticipated launch of the first spot Bitcoin exchange-traded funds (ETFs) in the US, providing easy access for Wall Street investors.

According to the annual survey conducted by José Simeón Cañas Central American University in El Salvador, 12% of the local population used Bitcoin (BTC) at least once to pay for goods and services in 2023.

In a dynamic week for the cryptocurrency market, Bitcoin price prediction is neutral as BTC is trading at $42,870 with a modest increase of less than 0.25% as of Wednesday. This uptick comes amidst a flurry of significant developments. Core Scientific, a prominent Bitcoin mining entity, has announced plans to file for bankruptcy and relist its shares, a move that has sent ripples across the crypto industry.

The crypto landscape has changed dramatically over the past few years, with stablecoin volumes challenging traditional payment giants like PayPal and Visa.

₹2 crore) annually through the Liberalized Remittance Scheme (LRS), encompassing all overseas expenditures, including travel, education, and investments. Looking ahead, there's potential for Indian mutual funds to introduce products allowing investment in these US-based ETFs. Such 'feeder funds' would facilitate investments in the Indian rupee, with the same currency used for redemptions, and wouldn't count against the LRS limit.

bitcoin last year in El Salvador, the first country anywhere to make the cryptocurrency a form of legal tender, said a poll released Wednesday. The government of President Nayib Bukele took this pioneering step in 2021, introducing bitcoin in circulation alongside the US dollar, which replaced the Salvadoran colon in 2001. The goal was to make remittances — they account for a quarter of GDP here — cheaper to send and to get Salvadorans to open bank accounts, which 70 percent of the population lacked. However a poll by Central American University found that 85 percent of people questioned did not use bitcoin to pay for a good or service last year, and three percent have never ever used the currency.