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Bitcoin is too volatile to be used as legal money, according to Bank of England’s Chief

Bank of England governor Andrew Bailey has expressed concerns over El Salvador’s adoption of Bitcoin as legal tender after President Nayib Bukele announced the launch of Bitcoin City. Trading around $43,000 on the first day of El Salvador’s Bitcoin adoption as legal tender, Bitcoin surged to a new historical high above $68,000 on Nov. 9. The IMF previously issued a warning against El Salvador’s Bitcoin Law in June, which didn’t prevent the country from adopting it and accepting BTC as legal ten...
Tags: Business, England, News, Bank Of England, Bitcoin, El Salvador, Btc, Cryptocurrency, Imf, Andrew Bailey, NAYIB BUKELE


El Salvador is building a volcano-powered "Bitcoin City" with no taxes

From Bloomberg: El Salvador intends to issue the world's first sovereign Bitcoin bonds and build Bitcoin City, which will be free of income, property and capital gains taxes, President Nayib Bukele announced in the beach town of Mizata to a crowd of cheering Bitcoin enthusiasts.  — Read the rest
Tags: Video, News, Cities, Bitcoin, Volcanoes, El Salvador, Smart Cities, Life In The Big City, Bitcoins, City Planning, NAYIB BUKELE, Dumb Smart Cities, Stupid Smart Cities, Bitcoin City, Mizata, Next Century Cities


Analysis-Amid Bukele's Bitcoin Hype, Not All Salvadorans 'Feel the Bit'

By Sarah Kinosian and Rodrigo CamposSAN SALVADOR (Reuters) - El Salvador's President Nayib Bukele took the stage last weekend at the end of "...
Tags: Reuters El Salvador, NAYIB BUKELE, Sarah Kinosian, Rodrigo CamposSAN


El Salvador will launch 'bitcoin bond' that pays special dividend amid plans for new crypto city

El Salvador President Nayib Bukele.Secretaria de Prensa de La Presidencia/Handout via Reuters El Salvador will launch a "bitcoin bond" and announced plans for the world's first "Bitcoin City." Investors in the new bond will receive an annual special dividend, according to Blockstream. The new city will be built next to a volcano, and feature an airport as well as commercial and residential areas. El Salvador is partnering with digital assets firm Blockstream to raise about $1 billion for ...
Tags: Trends, El Salvador, Blockstream, Reuters El Salvador, NAYIB BUKELE, Phil Rosen, Bukele, Nayib, Bitcoin City, Conchagua


Crypto bonds! Volcanoes! What we know about the first ‘Bitcoin City’

Crypto bros could soon have a new dream destination. At a conference on Saturday, the president of El Salvador unveiled plans to build the world’s first “Bitcoin City.” Dressed in all white and donning a backward baseball cap, President Nayib Bukele looked more like a pop star than a politician as he described an ecological metropolis funded by Bitcoin-backed bonds. He compared his strategy to that of Alexander the Great founding cities that he humbly named after himself: The idea behind it was ...
Tags: Startups, Bitcoin, El Salvador, Insider, Alexander the Great, NAYIB BUKELE, Hard Fork, Alexandrias


El Salvador plans to build a 'Bitcoin City' powered by a volcano

El Salvador plans to build the world's first "Bitcoin City," President Nayib Bukele said on Saturday.Jose Cabezas/Reuters El Salvador plans to build the world's first "Bitcoin City," President Nayib Bukele said Saturday. He said it would be funded initially by bitcoin-backed bonds and wouldn't levy any taxes bar VAT. Bukele said the city planned would get geothermal power from a volcano to mine bitcoin. El Salvador plans to build the world's first "Bitcoin City", funded initia...
Tags: News, Trends, Markets, Bitcoin, Crypto, El Salvador, Vat, Blockstream, Cryptocurrency, Samson, Bitfinex, NAYIB BUKELE, La Union, Nelson Renteria, Bukele, El Salvador Bukele


El Salvador plans to build world’s first ‘Bitcoin City’ backed by bitcoin bonds

El Salvador’s President Nayib Bukele speaks during a ceremony to lay the first stone of Chivo Vet, a veterinary hospital financed with the gains El Salvador has obtained from its bitcoin operations, in Antiguo Cuscatlan, El Salvador November 1, 2021. Speaking alongside Bukele, Samson Mow, chief strategy officer of blockchain technology provider Blockstream, said El Salvador would initially issue a $1 billion bond backed by bitcoin to begin raising funds for the planned city. El Salvador in Sept...
Tags: Business, News, Bitcoin, El Salvador, Blockstream, Cryptocurrency, NAYIB BUKELE, Antiguo Cuscatlan El Salvador, Bukele Samson


El Salvador Plans 'Bitcoin City' Powered by a Volcano, Financed by Bitcoin Bonds

"In a rock concert-like atmosphere, El Salvador President Nayib Bukele announced that his government will build an oceanside 'Bitcoin City' at the base of a volcano..." reports the Associated Press. "A bond offering would happen in 2022 entirely in Bitcoin, Bukele said, wearing his signature backwards baseball cap. And 60 days after financing was ready, construction would begin." The city will be built near the Conchagua volcano to take advantage of geothermal energy to power both the city an...
Tags: Tech, Associated Press, El Salvador, Blockstream, Samson, NAYIB BUKELE, Bukele, Bitcoin Bukele, Bitcoin Bonds, Bitcoin City, Conchagua, Alexander the Great Bukele, Alexandrias


El Salvador to Build Cryptocurrency-Fueled 'Bitcoin City'

El Salvador President Nayib Bukele says his government will build an oceanside “Bitcoin City” at the base of a volcano.
Tags: El Salvador, NAYIB BUKELE, Bitcoin City


El Salvador plans first 'Bitcoin City', backed by bitcoin bonds

El Salvador plans to build the world's first "Bitcoin City", funded initially by bitcoin-backed bonds, President Nayib Bukele said on Saturday, doubling down on his bet to harness the crypto currency to fuel investment in the Central American country.
Tags: Cnn, El Salvador, NAYIB BUKELE, Bitcoin City


'Foreign' Agents Pitch Has El Salvador Civil Society on Edge

El Salvador President Nayib Bukele has pitched a proposed law requiring people and organizations who receive foreign funding to register as “foreign agents,” following the lead of countries like the United States.
Tags: El Salvador, NAYIB BUKELE, El Salvador Civil Society


El Salvador's Bukele Deploys Military After Spike in Homicides

SAN SALVADOR (Reuters) - Salvadoran President Nayib Bukele on Thursday deployed the military to patrol streets throughout the country in response...
Tags: El Salvador, Reuters, SAN SALVADOR, NAYIB BUKELE


El Salvador's Bukele Deploys Military After Spike in Murders

SAN SALVADOR (Reuters) -Salvadoran President Nayib Bukele on Thursday deployed the military to patrol streets throughout the country in response to...
Tags: El Salvador, Reuters, SAN SALVADOR, NAYIB BUKELE


Bitcoin nears $70,000, while ether eyes $5,000 as the rally extends into a fourth day, aided by a weaker dollar and upbeat investor sentiment

Ether NurPhoto Ether and bitcoin both rallied for a fourth day on Tuesday to record highs, topping $4,800 and $68,500, respectively. The coin's momentum spilled over into Tuesday thanks to a lower dollar and an upcoming network upgrade. Crypto fans including the Winklevoss twins and El Salvador's Nayib Bukele, hit Twitter to cheer on the rally. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Ether and bitcoin rallied for a fourth day on Tuesday to record h...
Tags: US, Trends, Bloomberg, Crypto, El Salvador, Abu Dhabi, Cawley, Tyler, Tyler Winklevoss, Zupan, Cameron Winklevoss, OANDA, NAYIB BUKELE, Bukele, Jeffrey Halley, Nick Cawley


Zimbabwe is looking at adopting cryptocurrency as legal payment, top government official says

A pile of bitcoin cryptocurrencies is seen. Jakub Porzycki/NurPhoto via Getty Images A top official said Zimbabwe is looking to allow cryptocurrency as legal payment, according to a local report Sunday. The government is talking to businesses for their views as it tries to develop policies around crypto. Zimbabwe's finance minister recently said crypto is unstoppable, and adoption in Africa has soared 1,200% in the last year. Sign up here for our daily newsletter, 10 Things Before the ...
Tags: Africa, Trends, Getty Images, Zimbabwe, Crypto, El Salvador, Herald, NAYIB BUKELE, Mthuli Ncube, Jakub Porzycki NurPhoto, Camomile Shumba, Charles Wekwete, Wekwete


El Salvador President Nayib Bukele says he will use some of his country's bitcoin profits to build 20 schools

Nayib Bukele APHOTOGRAFIA El Salvador will use a "few million" of its bitcoin profits to build 20 schools, President Nayib Bukele said Tuesday. The president spoke at an event where he laid the first stone of a bitcoin-funded veterinary hospital. El Salvador recently bought another 420 bitcoin to bring its total holdings to 1,120, worth around $69 million. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. El Salvador will use some of its profits from its bitcoin h...
Tags: Trends, El Salvador, Imf, NAYIB BUKELE, Bukele, Opening Bell El Salvador, Camomile Shumba, Casa Presidencial, APHOTOGRAFIA El Salvador


The big picture: incarcerated gang members in El Salvador

Tariq Zaidi’s powerful image of the overcrowded Chalatenango prison, which housed 1,637 inmates from the feared MS-13 criminal organisationThe British-based photographer Tariq Zaidi took this picture in Chalatenango prison in El Salvador in 2019. At the time, the prison held 1,637 inmates, all of whom were members of the MS-13 gang that has terrorised the country for decades. Zaidi arrived in El Salvador in 2018 and spent eight months negotiating access to the brutal world of MS-13 and its rival...
Tags: Photography, Americas, World news, El Salvador, Gangs, Donald Trump, Trump, Zaidi, Barrio, Chalatenango, NAYIB BUKELE, Tariq Zaidi


Bitcoin Back Over $60K As El Salvador Buys 420 BTC

Bitcoin is up 4% in the last 24 hours after El Salvadorian President Nayib Bukele announced that his government had purchased an additional 420 BTC, which is equivalent to around $25 million. The country now holds an estimated 1,120 bitcoin. CoinDesk reports: "Today the markets were buoyed by news of additional state-level purchases from El Salvador, indicating the country's intentions to continue to acquire," said Jason Deane, analyst at Quantum Economics. Underlying sentiment remains extremely...
Tags: Tech, El Salvador, New York Stock Exchange, Deane, NAYIB BUKELE, Jason Deane, Quantum Economics Underlying


El Salvador Adds Nearly $25 Million in Bitcoin to State Coffers, Says President

SAN SALVADOR (Reuters) - The Salvadoran government acquired 420 more bitcoin on Wednesday, President Nayib Bukele announced on social media, as the...
Tags: Bitcoin, Reuters, SAN SALVADOR, NAYIB BUKELE


Volaris in El Salvador Set to Accept Bitcoin

SAN SALVADOR (Reuters) - Low-cost airline Volaris will accept bitcoin in El Salvador, Salvadoran President Nayib Bukele said Tuesday."This allows...
Tags: El Salvador, SAN SALVADOR, Volaris, NAYIB BUKELE, Reuters Low, El Salvador Salvadoran


El Salvador's crypto-loving president says the country will spend $4 million worth of its bitcoin on a pet hospital

Dog at vets Sebastian Condrea El Salvador's President Nayib Bukele said on Sunday some of the country's bitcoin gains would fund a veterinary hospital. The president tweeted "bitcoin is good for pets". The country bought 700 bitcoin in September and is mining crypto as well, using clean volcano-powered energy. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. El Salvadorian President Nayib Bukele said over the weekend the country will use some of its bitcoi...
Tags: Trends, El Salvador, Btc, NAYIB BUKELE, Bukele, Camomile Shumba, Sebastian Condrea


Vitalik Buterin says 'shame on bitcoin maximalists' who support El Salvador's president in forcing businesses to accept the cryptocurrency

Ethereum co-creator, Vitalik Buterin. John Phillips/Getty Images for TechCrunch Vitalik Buterin said "shame on bitcoin maximalists" who uncritically praise El Salvador's President Nayib Bukele. Making businesses accept a specific coin goes against the "ideals of freedom" important to crypto, the ethereum co-founder said. Pushing bitcoin to millions of people without educating them is "reckless" and could lead to scams, the crypto billionaire said. Sign up here for our daily newsletter,...
Tags: Trends, Reddit, El Salvador, Btc, Redditor, Vitalik Buterin, NAYIB BUKELE, Buterin, Bukele, Shalini Nagarajan, Opening Bell Ethereum, Vitalik Buterin John Phillips Getty


El Salvador's president says the country has mined its first bitcoin using volcano energy

Nayib Bukele APHOTOGRAFIA El Salvador's President Nayib Bukele said the country had mined its first bitcoin with volcano energy on Friday. Bukele said earlier this week the volcano energy project was underway. Bitcoin mining is hugely energy intensive, and consumes more power in a year than the Philippines. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. El Salvador's President Nayib Bukele said in a tweet Friday that the Central American country had mined...
Tags: Trends, Philippines, Cambridge, El Salvador, NAYIB BUKELE, Bukele, Philippines Sign, LaGeo SA de CV, Camomile Shumba, APHOTOGRAFIA El Salvador


US stocks trade mixed as investors struggle to recoup losses from tech-led rout

Spencer Platt/Getty Images US stocks were mixed on Wednesday after a sell-off drove the market to its biggest loss since May in the prior session. The 10-year US Treasury yield shed around 0.8 basis points to 1.544% after rising to its highest since the end of June. Bitcoin, gold, and oil all slipped Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks were mixed on Wednesday after a massive tech sell-off in the previous session drove the stock market to it...
Tags: Congress, US, Trends, Thailand, Treasury, Goldman Sachs, US Treasury, El Salvador, Federal Reserve, Nasdaq, Warby Parker, Lucid, Mohamed El Erian, OANDA, NAYIB BUKELE, Edward Moya


El Salvador's President Bukele says the first steps in the country's bitcoin volcano project are underway

El Salvador and bitcoin SOPA Images / Getty Images El Salvador's President Nayib Bukele revealed the "first steps" of a bitcoin volcano project Tuesday. Bukele has said his government would look into using volcano energy to power bitcoin mining. Bitcoin mining is hugely energy intensive, and consumes more power in a year than the Philippines. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. El Salvador's President Nayib Bukele said the Central American coun...
Tags: US, Trends, Philippines, Cambridge, El Salvador, NAYIB BUKELE, Bukele, Philippines Sign, LaGeo SA de CV, Camomile Shumba, Nayib Bukele Twitter Bitcoin


Women march for abortion rights across Latin America

By Ana Isabel Martinez | Reuters MEXICO CITY – Thousands of women demonstrated in several Latin American cities on Tuesday to commemorate the global day of action for access to safe and legal abortion, in a region where the procedure is fully permitted only in a handful of countries. In Mexico City, women marched to the historic center under the gaze of police with shields and riot helmets. Authorities put up protective fences on some major buildings and monuments that in the past have been spra...
Tags: Congress, Mexico, Sport, Colombia, Soccer, Chile, Mexico City, El Salvador, Latin America, Bogota, Veracruz, Ana Isabel Martinez, Legislative Assembly, SAN SALVADOR, Cuernavaca, NAYIB BUKELE


A third of El Salvador's population is actively using its bitcoin wallet Chivo, President Nayib Bukele says

President Nayib Bukele is a crypto enthusiast. Emerson Flores/APHOTOGRAFIA/Getty Images El Salvador's president has said 2.1 million people in the country are actively using the bitcoin wallet Chivo. Nayib Bukele said the wallet now has more users than any single bank in El Salvador. Yet the figures suggests a mixed response to bitcoin becoming legal tender in the country. See more stories on Insider's business page. El Salvador President Nayib Bukele has said a third of the countr...
Tags: Apple, Trends, International Monetary Fund, El Salvador, Chivo, NAYIB BUKELE, Harry Robertson, Bukele, Emerson Flores, Chivo Nayib Bukele


Nayib Bukele calls himself the ‘world’s coolest dictator’ – but is he joking?

El Salvador’s president is consolidating power and seems intent on rewriting the country’s constitutionAmong the colourful houses of Comunidad Iberia, an impoverished neighbourhood of San Salvador, the dark glass cube of the Urban Centre for Welfare and Opportunities (or Cubo in its Spanish acronym) is an eye-catching piece of urban architecture. Inside local children take art classes, read in the library and play online games. Outside, a mural depicting Armando Bukele, the father of El Salvador...
Tags: Protest, Americas, Bitcoin, El Salvador, SAN SALVADOR, Cubo, NAYIB BUKELE, Comunidad Iberia, Urban Centre for Welfare, Armando Bukele


Top Stories this AM: Trump sues niece, NYT, for $100 million; Brian Laundrie reportedly seen 'acting weird' before disappearance; Britney Spears' unlikely supporter

Good morning and welcome to your weekday morning roundup of the top stories you need to know.For more daily and weekly briefings, sign up for our newsletters here.What's going on today: "You know, when you're out in the middle of nowhere, your hackles go up when you see something that's out of the ordinary." An FBI tipster claims she saw a man that may be Gabby Petito's fiancée Brian Laundrie "acting weird." Jessica Schultz, a camper who said she saw the white van belonging to Ga...
Tags: News, Newsletter, Trends, Joe Biden, Fbi, New York Times, Boris Johnson, Britney Spears, El Salvador, Johnson, Biden, Donald Trump, Cruz, Trump, Boris, Blumenthal


Fears for democracy in El Salvador after president claims to be ‘coolest dictator’

US diplomat raises concerns after Nayib Bukele makes outlandish claim on Twitter and replaces judges to permit future re-electionThe top US diplomat in El Salvador has warned of “a decline in democracy” in the country, whose president, Nayib Bukele, recently changed his Twitter profile to read “the coolest dictator in the world”.Speaking after the state department put five Salvadoran supreme court justices on a list of “undemocratic and corrupt actors”, the US embassy chargé d’affaires in San Sa...
Tags: Protest, Americas, US, World news, Bitcoin, El Salvador, SAN SALVADOR, NAYIB BUKELE