Key Takeaways El Salvador's Bitcoin investment has been hit hard due to the recent market crash. The country's Bitcoin reserves have suffered a 31% paper...

HODLing the keys of a nation state might not be simple, but it's the first step to monetary freedom for countries.

The president of El Salvador, Nayib Bukele announced the purchase of 410 Bitcoin (BTC) for $15 million in the midst of a day of sharp declines in the cryptocurrency markets, as the flagship cryptocurrency trades below $37,000, last seen during July 2021. “I was wrong, didn’t miss the Bitcoin dip. El Salvador just bought 410 BTC for only 15 million dollars, Some guys are selling really cheap,” Bukele said in a Tweet on Friday. Nope, I was wrong, didn’t miss it. El Salvador just bought 410 #bitcoin for only 15 million dollars 🥳 Some guys are selling really cheap 🤷🏻‍♂️ https://t.co/vEUEzp5UdU — Nayib Bukele 🇸🇻 (@nayibbukele) January 21, 2022 With the latest addition, the total Bitcoin holding of El Salvador stands at 1801 BTC, currently valued at about $66 million. A few hours before the announcement, news was also revealed that the government of El Salvador has planned on offering small and medium-sized companies (SME) for $10 million in crypto loans during the first quarter of 2022. Acumen, a Solana-based lending platform, will be financing the initiative of the National Commission for Micro and Small Businesses (CONAMYPE) with an annual interest between 6 percent and 7 percent with a maximum of 10 percent. The platform will use stablecoins like USDC or USDT to Conamype which would then distribute to entrepreneurs through Banco Hipotecario, a government-owned bank. The entrepreneurs would then pay the loan and its interest in the U.S. dollars to the Mortgage Bank, which would then be in charge of paying the debt to Acumen. In September, El Salvador became the first country in the world to adopt bitcoin as legal tender despite criticisms from global financial institutions like the IMF and World Bank. After the acceptance of BTC, the country announced tax exemption for foreign investors on BTC profits. The President of El Salvador later pledged to build a tax-free Bitcoin City for certain crypto investors in addition to establishing geothermal bitcoin mining facilities to make the Central American country a global crypto mining hotspot.

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Nayib Bukele, the President of El Salvador, recently announced that the Central American country has acquired 410 Bitcoin for a total of $15 million.

Bitcoin Magazine got an exclusive interview with Blockstream's Samson Mow to discuss El Salvador's new Volcano Bitcoin Bond.

Strike CEO, Jack Mallers gave a presentation to the International Monetary Fund (IMF) regarding the Bitcoin Lightning Network and its potential to open up cross-border payments.

The post Does the IMF have beef with Bitcoin? Jack Mallers gives his take appeared first on CryptoSlate.

Bitcoin is pushing deeper into the fabric of El Salvador’s economy. The Central American nation is now considering providing low-interest Bitcoin-backed loans to small and micro businesses as one of the next steps of its Bitcoinization. The scheme will cater to the pressing need of small business owners to get fair-priced funding for their enterprises.

The post El Salvador wants to give small businesses access to Bitcoin-backed loans appeared first on CoinGape.

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Investors betting that El Salvador will default over the next five years have more than tripled credit swap prices since it adopted Bitcoin.

The post Will El Salvador default on its debt because of Bitcoin? Markets say yes appeared first on Protos.

Crypto exchange Bitmex is acquiring a German bank to create “a regulated crypto powerhouse.” The company plans to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.” Bitmex Plans to Become a Regulated Crypto Powerhouse Cryptocurrency exchange Bitmex announced Tuesday a purchase agreement of Bankhaus von der Heydt, a German bank […]

Strike’s Bitcoin Wallet went live in Argentina last week.

The post Strike’s Bitcoin Wallet is #1 in Argentina in less than a week appeared first on CryptoSlate.

Fidelity Digital Assets, a subsidiary of Fidelity Investments, published a report earlier this month on crypto trends and their potential future impact. Among the trends discussed in the report is cryptocurrency adoption by sovereign nations. This past year saw some major moves by world governments with regards to digital assets,” Fidelity described. The firm expects […]