Monday, January 30, 2023
HomeBitcoinEl Salvador Wins Its Bitcoin (BTC) Bet, Critics Fail, Here's What Happened

El Salvador Wins Its Bitcoin (BTC) Bet, Critics Fail, Here’s What Happened

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Yuri Molchan

El Salvador president slammed mainstream media for its pessimistic protection of nation’s Bitcoin wager


  • El Salvador isn’t asserting default on BTC bonds
  • Nationwide Bitcoin Workplace of El Salvador

El Salvador chief Nayib Bukele has taken to Twitter to state that regardless of the profitable payout of $800 million on a Bitcoin-backed bond it had issued earlier, the mainstream media within the U.S. and different main international locations usually are not protecting this vital occasion.

El Salvador isn’t asserting default on BTC bonds

Within the meantime, he burdened, final 12 months, lots of media shops revealed “a whole bunch” of pessimistic publications, claiming that the nation would go on default by January 2023. Specifically, Bukele talked about an article by The New York Occasions, which revealed the narrative that El Salvador was unable to pay on its BTC bonds and would face a default.

He additionally supplied hyperlinks to a number of different articles, whereas claiming that there have been much more on the market than simply that one.

Bukele said that he known as out The New York Occasions, however readers would slightly imagine worldwide information shops and their “financial geniuses.”

Slamming all of the forecasts that El Salvador would face a default, the president shared the information that they’d simply paid a $800 million Bitcoin bond. Nonetheless, in line with him, there is just one article in Spanish that has lined this essential occasion up to now.

Nationwide Bitcoin Workplace of El Salvador

In November final 12 months, El Salvador opened its Nationwide Bitcoin Workplace. The institution is coping with numerous methods and initiatives of the nation’s authorities that contain the flagship cryptocurrency, Bitcoin. Moreover, it’s tasked with offering any info concerning Bitcoin and blockchain to the media.

The Nationwide Bitcoin Workplace was established by Decree No. 49 and signed by president Bukele and the nation’s minister of tourism.

On the time of this writing, Bitcoin is altering arms at $22,707, dropping almost 2% prior to now 24 hours. Earlier this month, it had managed to rise by 39% for the reason that begin of the 12 months.

Over the weekend, BTC managed to interrupt above the $23,000 stage, but it surely failed to repair there and go increased.

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