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Chronicles

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A look at El Salvador's adoption of bitcoin as a national currency on Sept. 7, by giving citizens $30 to sign up for its Chivo wallet, and potential issues

Wall Street Journal : Tweets: @tunkuv , @chris2pherchase , @byheatherlong , @scottlincicome , and @ceostroff Tweets: Tunku Varadarajan / @tunkuv : “Adopting bitcoin as legal tender puts us on a roller coaster”: El Salvador is about to embark on a cryptocurrency experiment that risks wrecking its economy. https://www.wsj.com/... via @WSJ @chris2pherchase : That is some kind of bribe. Will be interesting to see the data and if El Salvadorians treat BTC like every other nation/person, as a store of value and not medium of exchange. Hodl no spendl https://twitter.com/... Heather Long / @byheatherlong : El Salvador will make Bitcoin its official currency on September 7 (alongside the US dollar). Salvadorans who sign up for a new e-wallet will get $30 The nation hopes to: 1) Attract more foreign investment 2) Attract more remittances https://www.wsj.com/... Scott Lincicome / @scottlincicome : “The 40-year-old president also wants to lure foreign investors to develop geothermal power from volcanoes to supply the large amounts of electricity needed for mining the cryptocurrency.” https://www.wsj.com/... Caitlin Ostroff / @ceostroff : In less than two weeks, El Salvador will become the first country to adopt bitcoin as a national currency. No one knows what comes next. w/@PerezEnMexico https://www.wsj.com/...

Wall Street Journal

Discussion

  • @tunkuv Tunku Varadarajan on x
    “Adopting bitcoin as legal tender puts us on a roller coaster”: El Salvador is about to embark on a cryptocurrency experiment that risks wrecking its economy. https://www.wsj.com/... via @WSJ
  • @ceostroff Caitlin Ostroff on x
    In less than two weeks, El Salvador will become the first country to adopt bitcoin as a national currency. No one knows what comes next. w/@PerezEnMexico https://www.wsj.com/...
  • @scottlincicome Scott Lincicome on x
    “The 40-year-old president also wants to lure foreign investors to develop geothermal power from volcanoes to supply the large amounts of electricity needed for mining the cryptocurrency.” https://www.wsj.com/...
  • @chris2pherchase @chris2pherchase on x
    That is some kind of bribe. Will be interesting to see the data and if El Salvadorians treat BTC like every other nation/person, as a store of value and not medium of exchange. Hodl no spendl https://twitter.com/...
  • @byheatherlong Heather Long on x
    El Salvador will make Bitcoin its official currency on September 7 (alongside the US dollar). Salvadorans who sign up for a new e-wallet will get $30 The nation hopes to: 1) Attract more foreign investment 2) Attract more remittances https://www.wsj.com/...