El Salvador to build $4M veterinary hospital using profits from Bitcoin trust

Salvadoran president Nayib Bukele has announced plans to invest part of the $4 million worth of profits the country has amassed from its Bitcoin holdings to invest into constructing a new veterinary hospital in the local capital of San Salvador. Taking to Twitter on Oct. 10, Bukele revealed that El Salvador’s state-operated Bitcoin trust currently […]

El Salvador introduces fuel subsidy of $0.20 per gallon to locals who pay in BTC

Salvadoran president Nayib Bukele has announced that local consumers can enjoy a $0.20 per gallon reduction in petrol prices when paying using the government-backed Bitcoin wallet, Chivo. Describing the news as “positive news for the pockets of Salvadorans,” the president announced the subsidy via Twitter on Sept. 30. According to a rough translation, Bukele stated: […]

70% of Salvadorans opposed to Bitcoin Law as Sep. 7 implementation draws near

With less than a week to go before El Salvador’s Bitcoin Law takes effect on Sept. 7, a majority of citizens surveyed are opposed to government-mandated cryptocurrency adoption. A survey conducted by the local Central American University’s (UCA) Institute of Public Opinion has found that 70% of Salvadorans believe President Nayib Bukele’s Bitcoin Law, recognizing […]