El Salvador's President Nayib Bukele is triumphant about his big bet on bitcoin as the cryptocurrency reached historic highs, surpassing $100,000 for the first time. Bitcoin has been legal tender in the country since 2021 but it never quite matched the president’s enthusiasm.
FILE - El Salvador ’s President Nayib Bukele gives a speech during the inauguration of an industrial data center in Ciudad Arce, El Salvador , July 16, 2024. FILE - A bitcoin symbol is presented on an LED screen during the closing ceremony of a congress for cryptocurrency investors in Santa Maria Mizata, El Salvador , Nov. 20, 2021.
Esteban Escamilla, a worker in a clothing store in Santa Tecla, outside the capital San Salvador, said he had cashed out the original $30 of bitcoin offered in 2021. Josefa Torres, 45, said as she was doing her grocery shopping that she didn’t have any bitcoin either. “I took out the money and used it for household expenses,” she said.
Donald Trump El Salvador Bitcoin Paul Atkins Cryptocurrency General News Latin America Politics Josefa Torres International Monetary Fund Esteban Escamilla U.S. Securities And Exchange Commission Carlos Acevedo Business Elon Musk World News
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