El Salvador is looking for loans backed by bitcoin for micro and small businesses across the country!

#Bitcoin-backed loans are an opportunity to remediate the situation.

#ElSalvador has around 1.2 million businesses in the country. Approximately 66% are micro-businesses and over 90% of micro-businesses are self-funded via informal #loans or loan sharks.

Since #ElSalvador adopted #bitcoin as a legal tender in September 2021, local tourism has jumped 30%. Now, as many as 60% of tourists are coming from the #US, said Tourism Minister Morena Valdez.

El Salvador President Nayib Bukele set forth 44 countries to negotiate Bitcoin

El Salvador President Nayib Bukele announced on Twitter that a meeting of 32 central banks and 12 financial authorities from 44 countries would take place on May 16.

The meeting held is to discuss financial inclusion, the digital economy, banking for the unbanked, and El Salvador's Bitcoin rollout and benefits.

Following President Bukele's official declaration, Bitcoin Beach tweeted a globe map with countries who have either already adopted Bitcoin or are attending Monday's summit colored in, with the caption "Probably nothing.


#ElSalvador #Bitcoin #NayibBukele

President of #ElSalvador: "We will begin buying one #Bitcoin every day tomorrow."

It’s Never Too Late!

The relevance of the #cryptocurrency sector is increasing over time, and adoption rates are skyrocketing. El Salvador's president is living proof of this rising #adoption rate!

What are you waiting for?

#ElSalvador maintains #Bitcoin holdings, prioritizing long-term strategy over potential short-term profits.

Bitcoin donations via citizenship program fuel El Salvador's #crypto reserves, supporting plans for Bitcoin bonds and a crypto hub.
https://coinpedia.org/news/el-salvadors-bitcoin-bet-president-bukele-vows-not-to-sell-amid-market-highs/

Top #CryptoNews of Last Week

1️⃣ #BTC surged 5.25% on February 28th, exceeding $60,000, hitting a record high of 64K. February saw a nearly 45% increase.

2️⃣ In February, #Ethereum surged over 47%, hitting 3.4K on February 28th. It marked its sixth month of gains and its best since July 2022.

3️⃣#MicroStrategy bought 3,000 #bitcoins at $51,813/coin. By Feb 25, 2024, they held 193,000 bitcoins. #Saylor's wealth surged $700M.

4️⃣ Hong Kong's SFC CEO Anita ordered service providers to halt operations by May 31st without licenses. Deadline for virtual asset licenses passed on February 29th.

5️⃣President Nayib Bukele revealed #ElSalvador's #Bitcoin profits surpassing 40% with no plans to sell holdings. Acquisition cost: $44,292; 2,381 #bitcoins held.

6️⃣#SBF's lawyer seeks 63 to 78 months imprisonment, disputing fraud claims. SBF's diagnosed anhedonic depression considered for reduced sentence.

7️⃣After Nigeria banned cryptocurrency trading sites, executives were detained, and passports seized. Central Bank expressed concern over #Binance's operations.

8️⃣#Gemini returned $1.1 billion to customers post-settlement with NYDFS, addressing compliance lapses and reputational damage.

9️⃣ #DoKwon's potential extradition delays from Montenegro might make him miss the US civil trial against the SEC scheduled on March 25th.

#ElSalvador holds over 2,380 #BTC, valued at $158.5 million, with profits exceeding $50 million.

President Bukele's bold move of recognizing #Bitcoin as legal tender faces criticism despite substantial gains.
https://coinpedia.org/news/el-salvadors-bitcoin-investment-pays-off-big-time-how-much-profits-the-country-made/