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The cryptocurrency market has been witnessing major shifts over the past couple of days.. After recording meteoric upticks, the industry was once again drowning in losses. Several assets like Bitcoin (BTC) lost major profits over the past 24 hours. After rising to a high of $94,727, the asset dipped back to a low of $82,467.24. While some were concerned about the king coin’s volatility, a few others were looking at the current scenario as a good buying opportunity. El Salvador, a country known for its inclination towards the cryptocurrency, made use of this to boost its BTC stash. Also Read: SUI Cryptocurrency To Reach $10B Market Cap in March 2025? Current Market Source: Watcher Guru Over the past 24 hours, the world’s largest cryptocurrency, dipped by nearly 10%. At the time of writing, the king coin was trading at $84,124.73. It should be noted that Bitcoin surged all the way to a high of $109,114.88. Currently the asset is 23% below this peak. Source: CoinMarketCap Sever...

El Salvador’s first Bitcoin anniversary comes amid BTC losing over 60% of value in one year, but that doesn't really mean that the country’s Bitcoin experiment has failed. Sept. 7, 2022 marks exactly one year since El Salvador became the first country in the world to adopt Bitcoin (BTC) as legal tender by enforcing the Bitcoin Law. Advocating for Bitcoin as legal tender last year, El Salvador President Nayib Bukele promised that Bitcoin adoption would benefit the 70% of the local population that had a lack of access to banking services as of 2021. The Salvadoran government also touted Bitcoin as a tool to attract foreign investment, create new jobs and cut reliance on the U.S. dollar in the country’s economy. One may question the current real benefits of Bitcoin Adoption in El Salvador as Bitcoin has lost roughly 60% of its value since the country adopted the cryptocurrency as legal tender. Exactly on this day one year ago, BTC was trading at around $46,000, according to data from...

Bitcoin is helping El Salvador to regain its monetary sovereignty, providing its citizens with financial opportunities and solving problems the country has historically faced. Since El Salvador adopted Bitcoin (BTC) as legal tender in September 2021, there have been a number of quick judgments issued declaring this move a failure, with some pundits going as far as to suggest that Bitcoin is somehow responsible for the economic challenges that existed in El Salvador well before Bitcoin was even created. But the traditional financial experts, talking heads and even representatives from the International Monetary Fund (IMF) espousing this point of view are missing the point entirely. After Salvadoran President Nayib Bukele announced his plan in July to offer to repurchase publicly held bonds maturing between 2023 and 2025, El Salvador’s sovereign debt totaled more than $20 billion. Admittedly a massive amount relative to the Salvadoran economy, it was unrelated to the decision to accept ...

Google Cloud and the government of El Salvador have entered into a 7-year partnership to digitize the country’s infrastructure in various sectors. Google Cloud announced a new partnership with the government of El Salvador on Aug. 29 to establish an office and provide Google Distributed Cloud (GDC) services in the country.  The partnership aims to digitize the country, update government services and improve the healthcare and education systems. The GDC will also help bring infrastructure closer to where data is generated for El Salvador. Nayib Bukele, the country’s president, said he believes El Salvador is quickly becoming a "hub for innovation.” “El Salvador is moving forward. We believe technology and foreign investment are key for development.” He also took to social media and posted about the partnership with a smirking smiley face emoji. Google plans to establish operations in El Salvador Official press release from @Google:https://t.co/Fm1i3YizNr — Nayib Bukele (@nayi...