El Salvador’s pro-crypto president Nayib Bukele said that despite Bitcoin’s strong presence in the Central American nation’s economic growth, adoption hasn’t met the expectations.Bukele, latest to feature on TIME magazine cover, noted that the country’s Bitcoin strategy is generally “net positive.” However, Bitcoin adoption rate has fallen short. He said that the digital asset has played a major role in the lives of many Salvadorans in day-to-day payments. The country has never forced anyone to adopt it, rather, offered it as an option, the president noted. “It hasn’t had the adoption we expected,” he added. “I expected more adoption, definitely, but we always prided ourselves on being a free country, free in every way.” Bukele also advocated people to use Bitcoin now, as they “will probably have gains in the future. Further, he stressed that given the positive impacts of Bitcoin on the nation, from branding to tourism, a slight lag in adoption hasn’t resulted in anything negative.
- 0 replies
- 0 recasts
- 0 reactions
Japanese investment firm Metaplanet Inc. announced today that it had purchased an additional 57.1 bitcoin worth about $3.3 million, as the company remains bullish on the world’s largest cryptocurrency. The Tokyo-listed firm said in a statement that it had bought an additional 500 million yen worth of bitcoin after it secured a $6.8 million loan last week to buy more crypto. That brings Metaplanet’s total bitcoin holdings to 303.095 bitcoin, the company added. Metaplanet’s stock closed down 5.8% at 1,121 yen on Tuesday. Its stock price has surged 600% so far this year and once peaked at 3,000 yen on July 24. The Nikkie 225 index gained 3.45% at closing today.
- 0 replies
- 0 recasts
- 0 reactions
Bitcoin has lost some of its momentum this week after surging higher on news former president Donald Trump could be about to drop a bitcoin bombshell. Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and "uncover blockchain blockbusters poised for 1,000% plus gains" in the aftermath of bitcoin's halving earthquake! The bitcoin price has dropped back away from the closely-watched $70,000 per bitcoin level despite billionaire investor Mark Cuban issuing a "crazy" bitcoin price prediction. Now, after Treasury secretary Janet Yellen admitted her fears over the future of the U.S. dollar, Tesla billionaire Elon Musk has warned the U.S. dollar is heading for "destruction" and the spiraling $35 trillion debt pile could "bankrupt" the U.S.—something some analysts think could push the bitcoin price higher.
- 0 replies
- 0 recasts
- 0 reactions