Topic: El Salvador and Bitcoin (Read 64 times)
Why is there a cryptocurrency there at all?
And what about their minerals?
Wealth is like water. Every country is trying to dig a cistern in such a way that wealth will flow into it. El Salvador is doing it with several investment types: Bitcoin; silver; the USD.
Everything is going well for El Salvador at the moment. They have recorded massive gains from their Bitcoin holdings (over $360M). Seeing this, other countries will be looking to follow a similar path as El Salvador.
According to CryptoSlate and Coinspeaker (https://cryptoslate.com/el-salvador-grants-bitget-a-bitcoin-license-amid-362-million-profit-boom/ and https://www.coinspeaker.com/bitget-receives-bitcoin-service-provider-bsp-license-central-bank-el-salvador/), El Salvador has granted Bitget a Bitcoin Service Provider (BSP) license and this means the exchange will be able to provide Bitcoin-related services in the country and give its citizens more options, solidifying the exchange's reputation.
While this provides more options for the citizens of the country, I am curious to know how the country will treat the effects of the bear market.
According to CryptoSlate and Coinspeaker (https://cryptoslate.com/el-salvador-grants-bitget-a-bitcoin-license-amid-362-million-profit-boom/ and https://www.coinspeaker.com/bitget-receives-bitcoin-service-provider-bsp-license-central-bank-el-salvador/), El Salvador has granted Bitget a Bitcoin Service Provider (BSP) license and this means the exchange will be able to provide Bitcoin-related services in the country and give its citizens more options, solidifying the exchange's reputation.
While this provides more options for the citizens of the country, I am curious to know how the country will treat the effects of the bear market.
It's quite nice seeing a country embrace an exchange and cryptocurrency in general than place a suffocating or regulations on it
I think the citizens of El Salvador might find that more convenient for their trading, hopefully more countries follow suit with something like this
That's really nice. I hope it won't turn into a disaster once BTC enters a major bear market once again. I can imagine Salvador citizens buying bitcoin since their government recognizes it and boom! A bubble blows up again. If chaos ensues, bitcoin haters would start reminding everyone about this incident the same way they remind about tulip mania.
Everything is going well for El Salvador at the moment. They have recorded massive gains from their Bitcoin holdings (over $360M). Seeing this, other countries will be looking to follow a similar path as El Salvador.
According to CryptoSlate and Coinspeaker (https://cryptoslate.com/el-salvador-grants-bitget-a-bitcoin-license-amid-362-million-profit-boom/ and https://www.coinspeaker.com/bitget-receives-bitcoin-service-provider-bsp-license-central-bank-el-salvador/), El Salvador has granted Bitget a Bitcoin Service Provider (BSP) license and this means the exchange will be able to provide Bitcoin-related services in the country and give its citizens more options, solidifying the exchange's reputation.
While this provides more options for the citizens of the country, I am curious to know how the country will treat the effects of the bear market.
According to CryptoSlate and Coinspeaker (https://cryptoslate.com/el-salvador-grants-bitget-a-bitcoin-license-amid-362-million-profit-boom/ and https://www.coinspeaker.com/bitget-receives-bitcoin-service-provider-bsp-license-central-bank-el-salvador/), El Salvador has granted Bitget a Bitcoin Service Provider (BSP) license and this means the exchange will be able to provide Bitcoin-related services in the country and give its citizens more options, solidifying the exchange's reputation.
While this provides more options for the citizens of the country, I am curious to know how the country will treat the effects of the bear market.
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