El Salvador
Buying the Dip? Microstrategy, El Salvador Acquire More Bitcoin
While bitcoin’s price fell about 8% Friday around $54,237, MicroStrategy said it bought 7,002 bitcoins for about $414 million in cash during its fiscal fourth quarter. Similarly, El Salvador’s President Nayib Bukele said he bought 100 more bitcoins at “a discount” as broader markets tumbled on new COVID-19 variant fear.
Bitcoin's Price Trajectory Ahead of Thanksgiving Weekend
CoinDesk's Galen Moore discusses what to make of bitcoin's price trajectory as the cryptocurrency is holding support above its 100-day moving average of $53,700. Plus, potential headwinds out of India amid talks of a bill banning cryptocurrencies in the country, and reactions to Salvadoran Ambassador to U.S. saying bitcoin challenges the U.S.' monetary authority.
IMF: Bitcoin Should Not Be Legal Tender in El Salvador
The International Monetary Fund (IMF) stated bitcoin should not be used as legal tender in El Salvador, saying its plans to acquire more BTC will require a “very careful analysis” of implications for its financial stability. It also questioned President Nayib Bukele’s announcement of a $1 billion bitcoin-backed bond.
El Salvador’s Ambassador to US on Central American Country’s Bitcoin Ambitions
Milena Mayorga, Ambassador of El Salvador to the U.S., discusses El Salvador’s bitcoin ambitions following President Nayib Bukele’s plans for the world’s first “Bitcoin City”– a low-tax, net-zero municipality financed primarily by a $1 billion bitcoin bond listed on Bitfinex.
El Salvador Wants to Build ‘Bitcoin City’ With Major Tax Incentives
El Salvador, the only country where bitcoin is a legal tender, is going to build an entire city based on the largest cryptocurrency by market value. “Bitcoin City” will have no income, property, capital gains or payroll taxes.
El Salvador's Bitcoin Bond Specifications
New data shared by El Salvador President Nayib Bukele reveals his plans to issue a $1 billion “Bitcoin Bond” with a 10-year maturity on the Liquid Network. Half of the money raised will be used to purchase bitcoin, and the rest will fund construction of a new ”Bitcoin City” along the Gulf of Fonseca near a volcano. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
El Salvador to Raise $1B via 10-Yr 'Bitcoin Bond' in Partnership With Blockstream
El Salvador President Nayib Bukele announced he would create an entire new city based on bitcoin and also issue a $1 billion "bitcoin bond" with Blockstream. Yet, bitcoin's price has since retreated and is down over 5% on the day. "What Bitcoin Did" Host Peter McCormack discusses his thoughts on the bitcoin bonds and why he's "not surprised" that "Bitcoin City" did not boost BTC's price.
Bitcoin Struggles at $60K Resistance, Support Above $53K
BitBull Capital CEO Joe DiPasquale discusses his crypto markets analysis and outlook as upsides look limited for bitcoin around the $60,000 resistance level. Plus, his reactions to El Salvador's "Bitcoin City" announcement and U.S. President Joe Biden nominating Jerome Powell as Federal Reserve Chairman for a second term.
