El Salvador will invest $ 1 billion in the opening of Bitcoin City from the sale of bonds

El Salvador President Naib Bukele announced plans to launch Bitcoin City. The project aims to ensure the development of the cryptocurrency industry and other technological and social initiatives in the country. This was announced by Nayib Bukele at the Bitcoin Week conference. Notable cryptocurrency companies will also participate in the development of Bitcoin City, including the Bitfinex exchange and the Blockstream technology company. El Salvador will invest $ 1 billion in bond sales to open…

IMF warned of the risks of accepting bitcoin as a legal tender in El Salvador

The IMF has once again warned that bitcoin poses too many systemic risks to be recognized as legal tender, as was done in El Salvador. A report from the International Monetary Fund (IMF) highlights that cryptocurrencies and digital payment systems like the Chivo wallet can make payments in El Salvador more efficient, expand financial services, and boost the economy. However, due to the high volatility of bitcoin, “BTC’s recognition as legal tender carries significant risks…