El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻

[As-Soon-As]

🇸🇻EL SALVADOR'S FIRST BITCOIN GOLF INVITATIONAL IS JUST TWO WEEKS AWAY!!


https://x.com/stacyherbert/status/1872334851962961966?t=y5QqTDicvFtxL6dsljuIVw&s=19

Big names from the world of bitcoin and golf will meet on the green in El Salvador on 10 & 11 January 2025 for epic good times as well as some fierce competition for a hole in one bitcoin as well as two extremely cool orange winners' jackets.


El Salvador will organize the game and I think it will be widely broadcasted, Golf is a very popular game and a lot of people will participate in it. I think they organized this game for the success of Bitcoin Holding and those who have more investors will definitely take more steps for Bitcoin Holding.
Because they have been successful using only Bitcoin to become known all over the world, and now they have organized Golf to get more success.

[betswift]

Interesting to see who would be there in that competition, in the land that cherished Bitcoin 
Great news indeed.
I also like the idea of Bitcoin 101 for the locals before the Tournament, great stuff.

[cryptoWODL]

El Salvador has recently hit another milestone in Bitcoin investment ie they have hit the milestone of 6,000 Bitcoins in total.


https://nayibtracker.com/

El Salvador has been buying bitcoins regularly, they have been buying bitcoins continuously since 2021 making them already hit the milestone of 6000 bitcoins in investments in bitcoins. The total amount of bitcoins that El Salvador has purchased, i.e. they have invested in bitcoins, is 6,000 bitcoins worth about $570 million dollars. El Salvador announced a long time ago that they would buy one bitcoin per day, perhaps because of this announcement they were able to buy such a large amount of bitcoin. I think El Salvador have become the owners of many Bitcoins today by purchasing Bitcoins every day through the DCA method.

[romero121]

El Salvador has recently hit another milestone in Bitcoin investment ie they have hit the milestone of 6,000 Bitcoins in total.


https://nayibtracker.com/

El Salvador has been buying bitcoins regularly, they have been buying bitcoins continuously since 2021 making them already hit the milestone of 6000 bitcoins in investments in bitcoins. The total amount of bitcoins that El Salvador has purchased, i.e. they have invested in bitcoins, is 6,000 bitcoins worth about $570 million dollars. El Salvador announced a long time ago that they would buy one bitcoin per day, perhaps because of this announcement they were able to buy such a large amount of bitcoin. I think El Salvador have become the owners of many Bitcoins today by purchasing Bitcoins every day through the DCA method.

Amidst the people opposing the adoption of bitcoin, the president, Nayib Bukele, took a strong decision to go with the plan. As a result, they've been reaching different milestones. The recent one being the total number of bitcoin holdings reaching 6000 BTC. With this, El Salvador takes the sixth position as a country to hold a larger number of bitcoins. They've achieved 127% growth on the investment, which constitutes a $344 million profit out of the present value of $570 million worth of bitcoins. El Salvador has set itself as an example to the world, and it is expected that more countries will start investing in bitcoin in the upcoming years. More specifically, at least we can expect more states getting into the adoption of bitcoin.

[Luzin]

El Salvador has set itself as an example to the world, and it is expected that more countries will start investing in bitcoin in the upcoming years. More specifically, at least we can expect more states getting into the adoption of bitcoin.

They are desperate to prove to the world. What they have done has had clearly visible results, although it is still related to assets and fluctuates. This increase in the amount proves Bukele's courage to not depend on the IMF and the US dollar. Even today El Salvador has become a small rich country. If you look at the development, just look at the fact that Russia is starting to use Bitcoin as an alternative payment in companies. Then Trump's plan to make Bitcoin a strategic reserve. Conditions of development are good, so I think more and more countries will start thinking about Bitcoin for the future.

Source: https://www.ccn.com/news/crypto/bhutan-top-crypto-nations-full-list-of-countries/

[PremiumcryptoHub]

and it is expected that more countries will start investing in bitcoin in the upcoming years. More specifically, at least we can expect more states getting into the adoption of bitcoin.

It is not certain whether other countries will adopt Bitcoin in the coming years, but currently, various companies and individuals in different countries have started accepting Bitcoin. El Salvador's bitcoin holdings are growing day by day, The 6000 bitcoins they have recently accumulated in their investment portfolio has been featured on the front page of their country's news.

[john_egbert]

El Salvador has set itself as an example to the world, and it is expected that more countries will start investing in bitcoin in the upcoming years. More specifically, at least we can expect more states getting into the adoption of bitcoin.

They are desperate to prove to the world. What they have done has had clearly visible results, although it is still related to assets and fluctuates. This increase in the amount proves Bukele's courage to not depend on the IMF and the US dollar. Even today El Salvador has become a small rich country. If you look at the development, just look at the fact that Russia is starting to use Bitcoin as an alternative payment in companies. Then Trump's plan to make Bitcoin a strategic reserve. Conditions of development are good, so I think more and more countries will start thinking about Bitcoin for the future.

Source: https://www.ccn.com/news/crypto/bhutan-top-crypto-nations-full-list-of-countries/

I do think that Russia does it mostly to do things on the side rather than believing in Bitcoin and understanding what it may bring to them - but alas, the same goes with Trump, probably.
It's just a new brand thing to get the votes and the sentiment going.

[Luzin]

I do think that Russia does it mostly to do things on the side rather than believing in Bitcoin and understanding what it may bring to them - but alas, the same goes with Trump, probably.
It's just a new brand thing to get the votes and the sentiment going.

Russia already has Bitcoin mining. In fact, they took steps to accept Bitcoin because there were sanctions from Europe related to Russian political activities. Russia is doing this to break free from the monopoly of the US dollar, so this is not just looking for attention. In fact, this regulation has been passed in law. If it was to attract attention, what did they benefit? I think it's more than that importance.

In fact, Rusia already own Bitcoin mining, although the latest regulations have several regions that are prohibited from mining activities starting January 2025. Maybe very different from Trump, he's in election so I think it's natural for him to bring this promise to the American people. But so far the steps he has taken are still seen as being in the promise he made before the election, so hopefully that promise will be realised.

[2Pizza410000BTC]

El Salvador bought more Bitcoin for their strategic bitcoin reserve this afternoon



Source: https://x.com/BitcoinMagazine/status/1876756947543671268?t=qMjtVHqp-1EtfsRNy-Ktiw&s=19

The government of El Salvador is constantly fulfilling its responsibility to buy Bitcoin. It is seen that in recent days, the amount of total Bitcoin purchased has reached 6011.183135 Bitcoin. The purchase of Bitcoin by El Salvador is increasing the interest of investors in investing more in Bitcoin and holding Bitcoin investments.

[Wiwo]

🇸🇻EL SALVADOR'S FIRST BITCOIN GOLF INVITATIONAL IS JUST TWO WEEKS AWAY!!

El Salvador will organize the game and I think it will be widely broadcasted, Golf is a very popular game and a lot of people will participate in it. I think they organized this game for the success of Bitcoin Holding and those who have more investors will definitely take more steps for Bitcoin Holding.
Because they have been successful using only Bitcoin to become known all over the world, and now they have organized Golf to get more success.

This is a big one for Golfers in El Salvador because there will be chances to meet and greeting with big names in the bitcoin Industry and to get to interact with each other, sharing updates and giving bitcoin investment advice to each other, those are the first of the type to see bitcoin golf tournaments and hope the organizers will be ready to hand out some free bitcoin to the winners in the golf competition.

Since you said that this golf event is going to be hosted live it then means we can follow up with the game as it is being played live, so let's see how this first-ever Bitcoin/golf event plays out.

[hero_the_bossman]

El Salvador bought more Bitcoin for their strategic bitcoin reserve this afternoon

Source: https://x.com/BitcoinMagazine/status/1876756947543671268?t=qMjtVHqp-1EtfsRNy-Ktiw&s=19

The government of El Salvador is constantly fulfilling its responsibility to buy Bitcoin. It is seen that in recent days, the amount of total Bitcoin purchased has reached 6011.183135 Bitcoin. The purchase of Bitcoin by El Salvador is increasing the interest of investors in investing more in Bitcoin and holding Bitcoin investments.

Great to see El Sal still following their goals and being true to their word.
Even though the IMF is on their tails, they are still pushing forward.

[arwin100]

El Salvador bought more Bitcoin for their strategic bitcoin reserve this afternoon

Source: https://x.com/BitcoinMagazine/status/1876756947543671268?t=qMjtVHqp-1EtfsRNy-Ktiw&s=19

The government of El Salvador is constantly fulfilling its responsibility to buy Bitcoin. It is seen that in recent days, the amount of total Bitcoin purchased has reached 6011.183135 Bitcoin. The purchase of Bitcoin by El Salvador is increasing the interest of investors in investing more in Bitcoin and holding Bitcoin investments.

Great to see El Sal still following their goals and being true to their word.
Even though the IMF is on their tails, they are still pushing forward.

The actions they made shows that they are not bothered with discouragement brought up by IMF and they show to them that despite whatever happen they will follow their belief that Bitcoin is better for their country.

Its good to see EL Salvador continue to accumulate since provably that they could earn a lot more profit which is helpful for the growth of their country. Also its good to see that their country is now subject on discussion and they are really benefiting on their adaption made since there tourism sector is booming when they adapt start to adapt Bitcoin. So for sure more to see from El Salvador and they became an exciting country to follow especially that they are doing good with their Bitcoin investment.

[delfastTions]

President Bukele's balancing act of being a politician focused on international markets (given the recent agreement with the IMF) with caring about his country and the general population in particular is clearly commendable.
The adoption of Bitcoin as a legal tender seems to have deliberately lost the relevance it had in 2021 across the country. But given the country's continued accumulation of Bitcoin reserves (I mean daily purchases of 1 BTC, as confirmed by the President of the Bitcoin Office of El Salvador Stacy Herbert for 2025), this only means that the high expectations of real Bitcoin use have become a reality in the financial world and Bitcoin has gradually found its niche in this country. And this niche is not so insignificant if we consider the entire set of consequences of legalization, from the increased tourist flow of cryptocurrency enthusiasts to educational blockchain programs in schools.
It is also worth taking into account the increased interest in El Salvador from some global transnational IT corporations that also appeared after the legalization of BTC.

 Here is another confirmation that things seem to be going in the right direction in El Salvador:

“President Nayib Bukele announced that Fitch Ratings has upgraded El Salvador’s long-term foreign currency credit rating from CCC+ to B-.
The outlook was also assessed as stable, an important recognition of the country’s efforts to strengthen its financial stability.
According to the statement, this improvement reflects El Salvador’s reduced financing needs and the easing of restrictions, thanks to two key factors: renewed access to international markets and the recent program announced with the IMF).”

[PremiumcryptoHub]

El Salvador bought more Bitcoin for their strategic bitcoin reserve this afternoon
Source: https://x.com/BitcoinMagazine/status/1876756947543671268?t=qMjtVHqp-1EtfsRNy-Ktiw&s=19

The government of El Salvador is constantly fulfilling its responsibility to buy Bitcoin. It is seen that in recent days, the amount of total Bitcoin purchased has reached 6011.183135 Bitcoin. The purchase of Bitcoin by El Salvador is increasing the interest of investors in investing more in Bitcoin and holding Bitcoin investments.

El Salvador didn't just buy bitcoins today they are buying bitcoins every day. The president of their country few years ago announced to buy a bitcoin every day. Accordingly they are still buying one bitcoin per day, their goal is to buy one bitcoin per day no matter how high the price of bitcoin is or how low the price of bitcoin is. El Salvador is now number seven among the countries in the world that have invested in Bitcoin. Bhutan is ahead of them. Maybe over time, El Salvador will buy more Bitcoin every day and their Bitcoin investment will grow much more in the future.

[tvbcof]

Great to see El Sal still following their goals and being true to their word.
Even though the IMF is on their tails, they are still pushing forward.

The actions they made shows that they are not bothered with discouragement brought up by IMF and they show to them that despite whatever happen they will follow their belief that Bitcoin is better for their country.

Its good to see EL Salvador continue to accumulate since provably that they could earn a lot more profit which is helpful for the growth of their country. Also its good to see that their country is now subject on discussion and they are really benefiting on their adaption made since there tourism sector is booming when they adapt start to adapt Bitcoin. So for sure more to see from El Salvador and they became an exciting country to follow especially that they are doing good with their Bitcoin investment.

I'm sad to see this and report on it, but El Salvador clearly dropped their policy of giving Bitcoin full 'legal tender' status.  They clearly capitulated to the demands of the IMF.  Even more sadly, they are using standard and rather disappointing means to divert.  Social media influencing and echo chambers, relying on people's ignorance of terms, cult-of-personality worship, etc.

It would be valid for El Salvador to fold if under extreme threat (e.g., the global powers will re-start the civil war, or Trump will make El Salvador the 54th state, or the next round of mandatory or near-mandatory gene therapies for the US DOD's next plandemic will be especially hot in El Salvador.)  I would have more respect for the government if they just told the people _why_ they needed to fold even if such disclosures are not how things are traditionally done.  The transparency would be a welcome change.

(On the topic, giant kudos to Bukele for explaining how the global powers tried to influence him to NOT crack down on crime due to their 'experts' twisted rational.  It was something I've suspected for a decade or more, but it is the first time I have heard a leader state it plainly in a speech he gave a week or two ago.  Edit: https://www.youtube.com/watch?v=5KP2kr5oD1M )

It takes about a minute of reading time to skim the first few paragraphs of https://en.wikipedia.org/wiki/Legal_tender to see that compelling the use of a currency for transactions has nothing to do with 'legal tender'.  It's possible to do so, or not to do so, regardless of the 'legal tender' status.  This because a transaction is agreed to BEFORE an associated DEBT comes into existence.

El Salvador has, to my knowledge, never explained their rational or legal position other than their 'Bitcoin Office' insisting that Bitcoin is still 'legal tender' in that country.  I don't think the IMF has yet formally agreed, so perhaps there are some weasel words going on about either when the 'all taxes to be paid in USD' insofar as it has not happened yet.

Or perhaps instead of 'legal tender for all debts public and private', El Salvador intends to argue that Bitcoin is 'legal tender for some debts some of which may be public and some of which may be private.'

One way or another, it is pretty clear that El Salvador did fold and capitulate to the IMF('s owners.)  Exactly why, and exactly how much more they will capitulate on other things going forward, remains to be discovered.

---

On the topic of El Salvador's (or anyone elses') 'Bitcoin Reserve', it is important to note the old Bitcoin adage, 'He who holds the keys holds the BTC.'

Bitcoin has a unique and rare possibility for the individual people on the street level to autonomously hold the keys (and thus the BTC) for their portion of the reserve.

I've seen absolutely no indication that the above is part of anyone's plans for what is advertised to be 'El Salvador's'  reserve.  The concept would be out of reach, intellectually, of all but a select group of the native plebs, and I wouldn't expect any appetite for it from the 'leadership' perspective.  That said, Bukele himself (and very few others) seems to have a flexible mind so I would not completely rule out his pushing to explore such a thing.

[Sonia_123]

El Salvador President Nayib Bukele Hints at Buying More Bitcoin As US DOJ Approves Sell
https://coingape.com/el-salvador-president-nayib-bukele-hints-at-buying-more-bitcoin-as-us-doj-approves-sell/

El Salvador's President Nayib Bukele is expecting BTC purchase to be at a discounted price in the future.
He said BTC prices are expected to decline to $90,000 in the coming days, since the US Government has sold $6.7 billion worth of BTC after getting a green light from US DOJ,  and because of these sales,the price of Bitcoin will drastically drop to $90,000

[cryptoWODL]

El Salvador President Nayib Bukele Hints at Buying More Bitcoin As US DOJ Approves Sell
https://coingape.com/el-salvador-president-nayib-bukele-hints-at-buying-more-bitcoin-as-us-doj-approves-sell/

El Salvador's President Nayib Bukele is expecting BTC purchase to be at a discounted price in the future.
He said BTC prices are expected to decline to $90,000 in the coming days, since the US Government has sold $6.7 billion worth of BTC after getting a green light from US DOJ,  and because of these sales,the price of Bitcoin will drastically drop to $90,000

The bitcoins that the US government recently sold were their seized bitcoins. Since the US government has sold Bitcoin, many people are thinking that the price of Bitcoin may drop significantly, Likewise the President of El Salvador, Naiyb Bukele thinks that the price of Bitcoin will fall further and then they will buy more Bitcoin lower price. Naiyb Bukele has already announced on Twitter that we will have the opportunity to purchase bitcoins at discounted price. What he means by saying this is that since they are buying bitcoins through the DCA method, So if the price of Bitcoin is lower then maybe they will have the opportunity to buy much more Bitcoin at once at a lower price.



At present i.e. according to today's Bitcoin market, the price of Bitcoin is $93,654. Bitcoin price has been dumping 2.35 percent since yesterday till today.

[delfastTions]

Yesterday, the Government of El Salvador bought 11 BTC at once for $1 million. Incidentally, this is already the third purchase of a large number of bitcoins in one day, and not just one bitcoin, the purchases of which continue.

The second interesting news from El Salvador is the relocation of the Bitfinex Derevatives head office to El Salvador.
These functions will now be carried out by Bitfinex Derivatives El Salvador S.A. de C.V.
This is obviously good news, as such a decision by Bitfinex management clearly shows a friendly attitude on the part of the Government of El Salvador and further steps by the Government of the country in developing their strategic line on the creation of a cryptocurrency and IT-technological cluster in El Salvador.

[Taskford]

Yesterday, the Government of El Salvador bought 11 BTC at once for $1 million. Incidentally, this is already the third purchase of a large number of bitcoins in one day, and not just one bitcoin, the purchases of which continue.

The second interesting news from El Salvador is the relocation of the Bitfinex Derevatives head office to El Salvador.
These functions will now be carried out by Bitfinex Derivatives El Salvador S.A. de C.V.
This is obviously good news, as such a decision by Bitfinex management clearly shows a friendly attitude on the part of the Government of El Salvador and further steps by the Government of the country in developing their strategic line on the creation of a cryptocurrency and IT-technological cluster in El Salvador.

Great to hear those developments.

Also after those 11 BTC acquisition they also aim this.

Nayib Bukele, the President of El Salvador, who has continued to push forward with bitcoin policies in his country, announced that he aims to profit from the potential DOJ sales of bitcoin seized as part of the Silk Road market takedown.

Source here and read this guys this action they want to do is pretty much interesting https://news.bitcoin.com/el-salvador-aims-to-purchase-dojs-seized-bitcoin-at-a-discount/ especially that we seeing them so aggressive to accumulate a lot more and get profit with Bitcoin.

Its impressive to see that Bukele really have high level of trust on Bitcoin and hopefully we can see more leaders like him and not those skeptical old man always deny the idea about adapting Bitcoin.

[Popkon6]

El Salvador Sees Tourism Boom Amid Bitcoin Adoption

As per a recent report, El Salvador has witnessed a boom in tourism amid its Bitcoin adoption as a legal tender.
As per a report from Santander, shared by El Salvador President Nayib Bukele, the country welcomed 3.9 million tourists in 2024, which was a 22% increase from the previous year. Notably,  the visitor numbers nearly doubled compared to the period between 2013 and 2016.

Construction Boom and Improved Security Driving The Surge
The boom in contruction and much higher mobility have allowed for the exploitation of the eco-tourism industry. Besides, the breakdown of tourists via geography showed an important surge in US-based visitors which may include some “BTC novelty tourists.” The improved security in El Salvador is encouraging Salvadorans living abroad, especially in the U.S., to visit their families, boosting the tourism sector.
Source link: https://coinpedia.org/news/el-salvador-sees-tourism-boom-amid-bitcoin-adoption/

This success in El Salvador has come only because of investing in Bitcoin, Nayib Bukele is putting his maximum effort into Bitcoin to help his country reach the peak of development. However, the possibility of more tourists entering El Salvador this year is the highest due to the acceptance of Bitcoin.
 Moreover, the most positive aspect in El Salvador is that they are buying one Bitcoin every day, which has become the most talked about topic of the moment. And they are definitely moving towards more success.