
El Salvador’s Daily Bitcoin Buys Continues Despite Market Slump
El Salvador’s continued love affair with Bitcoin, even in dire economic situations such as now, positions the country as an arguable champion of crypto adoption.
El Salvador’s continued love affair with Bitcoin, even in dire economic situations such as now, positions the country as an arguable champion of crypto adoption.
Recently, Argentina’s President Javier Milei has been openly discussing the country’s interest in blockchain technology and crypto.
Critics argue that El Salvador’s Bitcoin experiment was premature, highlighting the country’s struggles in achieving the ‘Bitcoinization’ of its economy.
As Bitfinex has said, acquiring the license in El Salvador is a significant milestone, as it opens the way for small and medium-sized companies, corporations, and retail investors the opportunity to participate in global markets.
The country seeks to explore “opportunities for cultural and commercial exchange”.
Historically, the crypto market led by Bitcoin and Ether has been characterized by high volatility in both directions of the market.
A Reddit user calculated that if only all 3.3 million members of the BTC community on Reddit support the initiative, they will be able to inject $99.5 million into Bitcoin.