Bitcoin was the first cryptocurrency to hit the market.. This digital currency, which in 2008 created by Satoshi Nakamoto, promoted the ideal of libertarianism and sought to rein in traditional monetary and financial institutions following the global financial crisis of that year.
The bitcoin (BTC) uses cryptography to ensure that its transactions are not regulated by any banking institution or body, which has put the currency in the middle of debates over its volatility as it does not require third parties. was accused of facilitating illegal activities such as fraud.
It was in 2009. on January 3rd, when bitcoin finally went live. with a batch of 50 coins known as a “genesis block”excavated by his own Satoshi Nakamoto. According to official records, 19.22 million are currently in circulation. bitcoins.
Although this cryptocurrency was worth almost nothing when it started, it didn’t take long for it to break the $1,000 barrier and begin to attract the attention of financial institutions; however, the hacking of the MtGox platform, where up to 80% of the units in circulation were changed, caused its value to collapse.
Bitcoin value reached $68789.63it was also influenced by comments from figures such as Elon Musk, which made it the most important cryptocurrency, despite the fact that organizations such as the World Bank, the International Monetary Fund (IMF) and the Inter-American Development Bank (IDB) do not see it. it is as an alternative.
Despite the skepticism, there are those who have chosen bitcoin: El Salvador became the first country to accept the cryptocurrency as legal tender on June 9, 2021, and Honduras Próspera, a special autonomous zone in Central America, did the same.
Bitcoin cryptocurrency price
Hour: 13:00 (UTC time)
Value : 16497.8 dollars
Changes in the last 24 hours: -0.44%
change in the last hour: -0.11%
Popularity by Capitalization: #1
Devastation of Bitcoin in El Salvador
in 2021 August. Salvador made history becoming the first country in the world to adopt bitcoins how legal tenderHowever, a year after its implementation, it did not bring much benefit and was not favorably received by the citizens.
A fully representative survey shows that 20% of Salvadoran households use the Chivo wallet to manage Bitcoin cryptocurrencies; of these, only 20% of owners of any commercial business have accepted bitcoins as a payment method.
In this context, it stands out that the government from Nayib Bukele spent over $100 million buying this digital assetwhich are now worth less than $50 million thanks to the options she provided.
When Bukele announced that El Salvador would accept bitcoin as legal tender, the cryptocurrency was worth $35,000; When it was officially announced, it was valued at $45,000. However, after the so-called “crypto winter”, the coin fell to $20,000.
Fitch recently cut its credit rating outlook for El Salvador in 2022 amid concerns over its bitcoin policy.