In terms of price action, cryptocurrencies like Bitcoin (BTC) and Ether (ETH) are ending 2021 with a whimper, confounding expectations for an end-of-year blow-off top scenario. A six-figure Bitcoin by December became a consensus trade among many analysts, investors and market observers who were expecting the flagship cryptocurrency to replicate its previous four-year cycle. Although Bitcoin is still a long way off from that coveted milestone, exponential markets require a longer-term view. When we zoom out, we see that Bitcoin continues to print higher highs and higher lows on the yearly chart. We also see significant uptake from both retail …

The government of El Salvador continues celebrating significant days by buying more Bitcoin (BTC), with president Nayib Bukele announcing a new purchase of 21 BTC on Tu. Worth around $1,036,000 at the time of writing, El Salvador’s latest BTC investment is to celebrate the “last 21st day of the year 21 of the 21st century” and commemorate the scarcity of Bitcoin as its supply is limited by 21 million BTC, Bukele said. The president also noticed that El Salvador’s entire size is reportedly around 21,041 square kilometers, which, according to Bukele, is not a coincidence as El Salvador is the …

The cryptocurrency and blockchain industry experienced explosive growth in 2021, particularly in its decentralized finance (DeFi) and nonfungible token (NFT) sectors. The year was also marked by continued price volatility, baffling behavior from China, a grand experiment in Central America, escalating institutional interest, and the rise of some faster smart-contract networks — all of which is reflected in this year’s list of industry “winners and losers.” Winners in 2021 Kazakhstan When China effectively banned Bitcoin (BTC) mining operations in May 2021, Kazakhstan rushed in to fill the vacuum, pitching displaced miners and others on its cheap and plentiful coal supply. …

Salvadoran president Nayib Bukele announced the purchase of 150 BTC as the market price momentarily slipped below $50,000 after losing over 15% in market value. The Republic of El Salvador has procured 150 Bitcoin (BTC) amid the biggest bear market since Bitcoin attained an all-time high of nearly $68,000 back in the first week of November. El Salvador just bought the dip! 150 coins at an average USD price of ~$48,670 #Bitcoin — Nayib Bukele (@nayibbukele) December 4, 2021 While Bukele’s government was able to make the purchase at $48,670 per coin, the bear market temporarily brought down the Bitcoin …

El Salvador President Nayib Bukele bought the dip again, investing more than $5 million into Bitcoin as the price dropped under $54,000 today. In a Friday tweet, the El Salvador president said he had purchased 100 Bitcoin (BTC) following a global market sell-off in response to a new COVID-19 variant discovered in South Africa. According to data from Cointelegraph Markets Pro, since reaching an all-time price of $69,000 on Nov. 10, Bitcoin has fallen more than 20% to reach $54,343 at the time of publication, an 8% drop in less than 24 hours. El Salvador just bought the dip. 100 …

Bank of England governor Andrew Bailey has expressed concerns over El Salvador’s adoption of Bitcoin (BTC) as legal tender after President Nayib Bukele announced the launch of Bitcoin City. Bailey argued that El Salvador’s decision to adopt Bitcoin as a currency was alarming because consumers are likely to suffer from the cryptocurrency’s extreme volatility. Trading around $43,000 on the first day of El Salvador’s Bitcoin adoption as legal tender, Bitcoin surged to a new historical high above $68,000 on Nov. 9. BTC price has significantly tumbled since then, with Bitcoin trading at $54,626 at the time of writing. “It concerns …

El Salvador’s dollar-denominated bonds have fallen to an all-time low as the Central American nation’s debt started trading in "distressed territory" this week. El Salvador’s USD bonds fell to 64.4 cents to the dollar on Monday, Nov. 22, following the weekend news that the Central American country would use Bitcoin (BTC) bonds to fund its Bitcoin City initiative. Dollar bonds have fallen steadily since April 2021 when they topped $1.10 according to Bloomberg data. A dollar-denominated bond is a bond issued outside of the United States by a foreign company or government, that is denominated in USD instead of their …

El Salvador continues to lead the Bitcoin (BTC) adoption drive as President Nayib Bukele announces the launch of Bitcoin City, which will be funded initially by $1 billion Bitcoin bonds. The initiative was first announced by Bukele at El Salvador’s Bitcoin Week conference, which sought to celebrate Bitcoin’s mainstream adoption in the country and increase citizen participation. "Pensé que teníamos que dar un anuncio grande en esta #BitcoinWeek. Así que hoy quiero anunciar que vamos a construir la primera #BitcoinCity", Presidente @nayibukele. pic.twitter.com/7yHQLyIjBx — Casa Presidencial (@PresidenciaSV) November 21, 2021 In Bukele’s words: “In #BitcoinCity we will have digital and …

Zimbabwe has been paying attention to the increasing demand for crypto among its people, which it views as a possible avenue for growth. The country has also been receptive to regulating the entire sector. Zimbabwe's government is considering utilizing Bitcoin as a legal payment option to meet this growing demand and harness the technology, according to local news. According to the news, retired Brigadier Colonel Charles Wekwete, the Permanent Secretary and Head of the Office of the President and Cabinet's e-government Technology Unit, confirmed that discussions with businesses are already underway. According to Wekwete, the disadvantages of the decentralized ecosystem …

The government of El Salvador is embarking on its next Bitcoin-related project which involves building schools using profits the nation has made on the asset. Profits or the “surplus” from the state’s Bitcoin Trust account will be channeled into the construction of 20 schools according to President Nayib Bukele. On Nov. 2, the Press Secretary of the Presidency tweeted: “When this project was started, we had not made as much money in FIDEBITCOIN [state BTC Trust account] as we have made now. So we have decided to make the first 20 Bitcoin Schools.” Bukele’s spokesperson also stated that profits from …

The President of El Salvador, Nayib Bukele tweeted earlier today that his government has taken advantage of the recent Bitcoin price drop and added 420 additional BTC to the nation’s stash. “It was a long wait, but worth it,” he tweeted, “We just bought the dip!” Shortly after he tweeted: “We’re already making a profit off the #Bitcoin we just bought.” During the time between the tweets, the value of the country's Bitcoin grew by around 0.4% or $100K. How do we make a profit if 1 #BTC= 1 #BTC? We have a trust fund accounted in USD, but the …

El Salvador’s Bitcoin (BTC) adoption has triggered a digital asset revolution in Latin America, and the region could benefit even more if people can exchange cryptocurrencies, fiat money and the upcoming central bank digital currencies (CBDC) on the same infrastructure, said the head of multicurrency investment platform Uphold. Speaking to Cointelegraph, Uphold CEO JP Thieriot underscored that the nature of life in Latin America begs for Bitcoin-based use cases, listing the region as that which will benefit the most as crypt adoption continues to grow. Venezuela and Colombia are the two most prominent crypto adopters in the region besides El …