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Nayib Bukele Reflects on El Salvador's Bitcoin Journey

El Salvador to Offer Bitcoin Tax Exemptions to Incentivize Foreign Participation

To incentivize foreign cryptocurrency investment into the country, the government of El Salvador has announced that foreign investors will receive immunity on Bitcoin (BTC) profits taxation. The announcement came from a government adviser last Friday. In an interview with Agence France-Presse (AFP), the legal advisor to President Nayib Bukele, Javier Argueta, noted that: “If a […]

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Bitcoin Shares Strong Correlation With US Stock Index Amid Bearish Sentiment

Reports show that Bitcoin (BTC) has shared a remarkable correlation with the stock market for about over a month now. Bitcoin currently trades around the $46,000 area, down by about 8% over the last seven days.  This price decline comes amid several positive factors in the industry. Just last week, El Salvador officially kicked off […]

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Cryptocurrency Exchanges Witness Operational Issues Amid Bitcoin Flash-Crash

Several cryptocurrency exchanges in the US suffered operational issues today amid the sharp crypto market crash sponsored by an intense rejection of Bitcoin. Not surprisingly, this correction comes on the same day El Salvador officially kicked off its Bitcoin Law. Top exchanges like Coinbase, Kraken, Gemini, and others reported that their users experienced difficulties using […]

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Bitcoin Officially Becomes a Legal Tender as El Salvador Purchases BTC

The world watches on as El Salvador makes history with its first official Bitcoin (BTC) purchase. El Salvador President Nayib Bukele took to Twitter yesterday to announce the successful acquisition of the country’s first 200 coins. The President added that El Salvador would make more BTC purchases as the deadline approaches to confirm the Central […]

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Bitcoin Resurfaces Above $50,000 As Sellers Lose Hundreds of Millions

Bitcoin (BTC) re-emerged above the $50,000 barrier today as millions of dollars worth of short positions got liquidated. Data from TradingView showed that the benchmark cryptocurrency touched the $50,400 level, its highest mark since August 23. BTC/USD finally mustered the strength to leave its lower trading range of the past weeks following an overnight rally. […]

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Bitcoin Network Transaction Volume Soars Amid Bearish Market Sentiment

While Bitcoin (BTC) continues to struggle below the $50,000 mark, reports show that the network has recorded significant transaction volume. On-chain analytics provider Glassnode recently revealed that the weekly transaction volume on the BTC network has surged to a record high, while the number of token holders steadily recovers. According to the report, the average […]

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