El Salvador’s Bitcoin Gamble, One Year Later
Bloomberg Crypto13 Sep 2022

El Salvador’s Bitcoin Gamble, One Year Later

It’s been one year since El Salvador adopted Bitcoin as legal tender. In September 2021, the Central American nation forged its own path as the first in the world to make the crypto currency an official part of their economy. According to tweets and statements from President Nayib Bukele the government has bought more than 2,000 BTC so far.

So what’s the problem? Well, many of those purchases were at or near market highs. Price declines mean that, at least on paper, El Salvador has lost more than half the value of those purchases so far. And surveys of both consumers and businesses show most people in the country just aren’t using Bitcoin. Nonetheless, President Nayib Bukele and government officials are adamant that the nation’s strategy has expanded financial services to a larger segment of the population and encouraged tourism.

What’s the real story of Bitcoin in El Salvador? Bloomberg reporter Mike McDonald joins this episode for more.

See omnystudio.com/listener for privacy information.

Episoder(224)

What's The Deal With Bitcoin Going Up?

What's The Deal With Bitcoin Going Up?

Surprising to some, it turned out to be a decent month for crypto. Bitcoin rose almost 40% and some smaller coins did much better. Speaking of risk taking: Wall Street firms are still keen on crypto, ...

3 Feb 202318min

What’s Next For Galaxy Digital CEO Mike Novogratz?

What’s Next For Galaxy Digital CEO Mike Novogratz?

The digital-asset industry is reeling from challenges many blame on a handful of so-called crypto bad actors and wayward CEOs. Of course we’re talking about the Do Kwon’s, the Alex Mashinsky’s, the Su...

2 Feb 202319min

Is China Poised to Relax Its Crypto Ban?

Is China Poised to Relax Its Crypto Ban?

One of the biggest shocks to the crypto market in the past couple of years came in 2021 - when China issued its most significant crackdown yet on all things digital assets.  Fast forward to 2023, and ...

1 Feb 202313min

The US Has a Renewed Urgency to Regulate Crypto Post-FTX

The US Has a Renewed Urgency to Regulate Crypto Post-FTX

The bankruptcy of crypto exchange FTX and the arrest of its former CEO San Bankman-Fried has had a lasting effect on the digital asset sector, for sure. But it’s also made an indelible impact on the p...

31 Jan 202319min

Should You Try Fidelity's New Crypto Platform?

Should You Try Fidelity's New Crypto Platform?

Long time Fidelity customers have been getting some interesting offers in their inbox from the financial services company over the past several months: a new crypto trading platform for retail investo...

30 Jan 202318min

This Week in Crypto: Binance Mishandles Collateral, More Crypto Layoffs

This Week in Crypto: Binance Mishandles Collateral, More Crypto Layoffs

As we reported this week, Binance acknowledged that it had been mistakenly mixing the collateral it holds for some of its tokens…. in the same digital wallet as other types of funds.  This kind of ope...

27 Jan 202317min

What Genesis's Bankruptcy Means for the Industry

What Genesis's Bankruptcy Means for the Industry

Crypto lender Genesis has filed for bankruptcy. For many observers in crypto, this wasn't entirely unexpected, not least because the company itself had been warning that it was staring down a liquidit...

26 Jan 202319min

What Will Coinbase’s Earnings Call Reveal?

What Will Coinbase’s Earnings Call Reveal?

The end of Sam Bankman-Fried’s empire created a contagion effect especially felt by crypto exchanges, like publicly-traded Coinbase. In early January, the exchange settled with New York regulators who...

25 Jan 202316min

Populært innen Politikk og nyheter

giver-og-gjengen-vg
aftenpodden
aftenpodden-usa
forklart
popradet
stopp-verden
det-store-bildet
lydartikler-fra-aftenposten
rss-gukild-johaug
fotballpodden-2
dine-penger-pengeradet
nokon-ma-ga
rss-ness
i-retten
hanna-de-heldige
aftenbla-bla
frokostshowet-pa-p5
rss-dannet-uten-piano
rss-penger-polser-og-politikk
rss-utenrikskomiteen-med-bogen-og-grasvik