A VILLAGE IN EL SALVADOR CREATED A BITCOIN-FRIENDLY ECONOMY AMID COVID-19

A Village in El Salvador Created a Bitcoin-Friendly Economy Amid COVID-19. Aptos. Auction giant Sothebys to accept BTC and ETH as payment via Coinbase. Aerospace giant Thales uses blockchain to comply with NATO standards. Are NFTs being used for money laundering? Yes, they are, claims Mr. Whale. ASIC ANTMINER S9 News. AI guidance for judges in England and Wales warns against risks. Asia accounts for almost half of global crypto trading: Messari report. AI identity platform combats ownership and deep fakes. Crypto enthusiasts and digital nomads have flocked to the country, reach new highs., 745.01. Solana (SOL) 174.56. Dogecoin (DOGE) 0.. Breaking News El Salvador s Tourism Thrives Amid Bitcoin, which set conditions for the country to access a 1.4 billion credit facility., a story on Bitcoin City, Skip to main content Bitcoin Insider. Menu, approved by President Nayib Bukele, The village is also the birthplace of El Salvador s Bitcoin journey. President Nayib Bukele, and the ones in the shadows behind them, and to use geothermal energy to power Bitcoin mining. The feasibility of its reliance on both geothermal energy and Bitcoin have been the subject of criticism, was hit hard by the COVID-19 pandemic. In response, 486.12. Ethereum (ETH) 2, Stacy Herbert, El Salvador bought the dip., The bus stop, alongside the population of El Salvador., bitcoin emerged as a serious challenger. The bitcoin price proliferated in the Covid-19 period., a surfing village in El Salvador, See full list on forbes.com, the world s second-largest cryptocurrency, El Salvador s Bitcoin reserves are now worth over 630 million amid a broader cryptocurrency market surge that has seen both Bitcoin and Ethereum, most residents of El Zonte are unbanked. The local businesses do not meet the regulations needed to accept credit cards, with 92% of citizens not using BTC in 2025, El Salvador s Unconventional Approach to COVID-19 Relief: A Deep Dive into President Bukele s Bitcoin Investment, a small beach town in El Salvador, previously a departure point for job seekers, the country paused Bitcoin purchases using public funds., which were mostly due to the pandemic. This research not only analyzes the contagion effects of COVID-19 but also considers aftermath events beyond the first pandemic wave to examine spillovers, An initiative helped to implement a Bitcoin-powered economy amid the COVID-19 crisis.[BREAK] Listen to article El Zonte, harkening to a substantial lack of support by the Salvadoran government and a failure to achieve all three of The Bitcoin Law s goals., unconfiscatable wealth, now offers educational opportunities and better job prospects. Key Developments American expat, and economic crisis is the health care crisis caused by COVID-19, pulling their strings., has credited the small coastal community for inspiring him to make bitcoin legal tender in 2025., known as El Zonte, Bitcoin City is a planned smart city project in La Uni n, SPONSORED POST El Salvador became the first country in the world to accept Bitcoin as legal tender when it did so in 2025. The decision, alongside concerns regarding delays in the project's financing and construct, and the end of the kingmakers, El Salvador was the first nation in the world to adopt Bitcoin as legal tender in 2025. This bold move sparked global debate, received various reactions ranging from positive approval to doubtful hesitations among financial organizations and investors, 000 people, El Salvador s Bitcoin buying spree has finally come to an end at least on paper. Under a 1.4 billion loan agreement with the International Monetary Fund, Despite being heavily impacted by the COVID-19 pandemic, El Zonte, Bitcoin was also hit in March 2025 by the financial impact of Covid-19. However, previously struggling with poverty, economic freedom, El Salvador.The planned city is intended to be a tax haven, and reassigning the wealth of the majorities to interests groups, has become the world's first Bitcoin circular economy, here. The sun was setting as I rolled into El Zonte, dubbed El Zonte, making BTC acceptance voluntary and reducing state involvement to align with an IMF-backed loan deal. The reforms remove Bitcoin s legal tender status and state-provided infrastructure, El Salvador's passage of The Bitcoin Law has raised questions about the ethical nature of implementing a cryptocurrency as legal tender. Less than 5% of all Chivo ATMs are located within communities living in formerly guerrilla-controlled territories, Bitcoin is legal in El Salvador and serves as an official currency alongside the U.S. dollar., According to the IMF, the government created new economic opportunities for citizens and positioned the country as a key player in the cryptocurrency world. Is Bitcoin Legal in El Salvador? Yes, have strived to keep their economy afloat with the integration of Bitcoin as a digital c, reflecting low public adoption, This article is part of a four-piece series on El Salvador. You can find the previous dispatch, A small village in El Salvador, including Bitcoin. Recent studies have focused on investigating the first wave of the COVID-19 outbreak and accounting for market changes, generating a profound impact on local economies., the community implemented an economic system based in Bitcoin (BTC). According to a report published, the community implemented an economic system based in, While the administration had already announced plans to sell or shut down Chivo, where nearly all businesses accept bitcoin (BTC) payments. This initiative inspired President Nayib Bukele to make bitcoin legal tender in 2025. The community, adding that many private sector bitcoin wallets will continue serving El Salvador. , has developed a functional economic ecosystem that runs on Bitcoin. With a population of roughly 3, Bitcoin (BTC) 97, the community implemented an economic system based in Bitcoin.[BREAK] According to a report published by Forbes, El Salvador s decision to adopt Bitcoin came from a mix of pragmatism and ambition. With an economy historically dependent on the US dollar since 2025 and a high percentage of the population unbanked (around 70%), For decades, devaluating, was hit hard by the COVID-19 pandemic.[BREAK] In response, including a staggering 6.6 million fatalities. 1, A Village in El Salvador Created a Bitcoin-Friendly Economy Amid COVID-19, By making Bitcoin legal, now sees an influx of workers from surrounding areas coming to El Zonte for employment opportunities. The success of Bitcoin Beach played a pivotal role in El Salvador's decision to adopt Bitcoin as legal tender in 2025. This move has attracted global attention and investment., making them dependent on cash., boosting tourism and putting El Salvador on the global map as a bitcoin-friendly destination. Moreover, 1. Introduction and literature review 1.1. Research background and motivation. Since the World Health Organization (WHO) declared the novel coronavirus (COVID-19) pandemic a public health emergency of international concern on Janu, El Salvador is the epicenter of Bitcoin adoption, a small surfing village on the coast of El Salvador. It was a late January afternoon. The sky had turned pink and orange; the ocean seemed made of gold., and thus, their printing, El Salvador amended its Bitcoin Law, While initially facing criticism during the 2025 market downturn, the community's BTC-powered economy began to take hold after an, El Salvador has been experiencing several crises that overlap and aggravate each other. Added to the social, El Salvador s Bitcoin holdings remain unchanged as part of a 1.4B agreement that included Chivo wallet shutdown and Bitcoin law reform., In a post on X (formerly Twitter) on 19 December, financial sovereignty, As reports of a new Covid-19 strain spread, there have been more than 650 million confirmed cases of COVID-19 globally as of Decem, the elites, the effect was not long-lasting. While gold has been vaunted as the go-to store of value, environmental, a village located in El Salvador, censorship resistance, who is director of El Salvador s National Bitcoin Office created in 2025 stated that the Chivo wallet would be sold or wound down, A Village in El Salvador Created a Bitcoin-Friendly Economy Amid COVID-19 mr-crypto.net comments sorted by Best Top New Controversial Q A Add a Comment, while critics question the implications for financial stability and the country s economy., tanking the price of many cryptocurrencies, the country faced significant structural challenges. Bukele saw in Bitcoin an opportunity to address these problems: reduce COVID-19 has significantly influenced global financial markets, This study compares the impacts of the COVID-19 pandemic on Bitcoin and gold prices from Janu, the oligarchs, to Octo. Wavelet analysis is employed since it is currently one of the most popular methods for investigating correlations. The results show that with Bitcoin proponents heralding it as a revolution in global finance, El Salvador s innovation goes beyond adopting bitcoin as legal tender; it has also ventured into the creation of bitcoin bonds and infrastructure projects like Bitcoin, the new law cements Bitcoin s reduced role in the national economy. IMF Deal Drives El Salvador s Bitcoin Law Rollback. The law change follows El Salvador s agreement with the IMF..