2021-6-22 06:27 |
A political party in El Salvador has filed a lawsuit alleging President Bukele’s new Bitcoin law could be unconstitutional and harmful to the country.
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The country is setting a precedent for others to follow, Moonwalker Capital Tatiana Koffman writes.
El Salvador received Bitcoin donations after President Nayib Bukele shared the Central American country’s digital wallet address with the public. In a March 14 post on social media platform X (formerly Twitter), Bukele revealed that the country transferred “a big chunk of our Bitcoin to a cold wallet and stored that cold wallet in a […] The post El Salvador receives Bitcoin donation after revealing on-chain address appeared first on CryptoSlate.
Nayyib Bukele, the President of El Salvador, revealed that the Central American nation generates multiple Bitcoin revenues from various channels alongside its BTC holdings. In a Mar 11. post on social media platform X (formerly Twitter), the president outlined four additional sources of Bitcoin revenue for the government, including: Revenue from its passport program.
Glassnode’s Bitcoin Spot Cumulative Volume Delta (CVD) registered its highest reading of 2024 on March 11, hitting nearly $900 million. This surge in the CVD, which measures the net difference between aggressive buying and selling pressure across major crypto exchanges, signals a strong bullish sentiment in the Bitcoin market.
Now that Nayib Bukele has officially been re-elected as President of El Salvador, there are many issues yet to address in following through with the policy platform he began in his first term.
President Nayib Bukele has taken to X to defend El Salvador’s Bitcoin (BTC) investment strategy, which the leader describes as “in the black. ” As prices recover, Bukele now wants critics to acknowledge their misjudgments and apologize.
El Salvador president Nayib Bukele, who recently began a six-month leave from office in order to focus on his reelection campaign, has stated that El Salvador’s Bitcoin (BTC) investment has turned profitable due to Bitcoin’s recent surge past $41,000.