cryptonews But not only was the BTC purchased using public funds, El Salvador’s president tweeted each time he purchased the cryptocurrency 🤔
While there is no guarantee that El Salvador has only purchased the amount of Bitcoin that its president tweeted about, the denial by BANDESAL to reveal exact information has been criticized by the anti-corruption body. ALAC El Salvador tweeted:
“The confidentiality limits the possibility for citizens to access and receive information on the operations carried out with public funds by BANDESAL.” Regardless of the exact amount of the country’s BTC holdings, the experiment to make Bitcoin into a legal tender in the Central American country has so far met with muted success.
One year after the country’s landmark BTC decision, there is no evidence that crypto is actively being used in the economy. Reports from this fall found that about 86% of businesses have never completed a Bitcoin transaction, while 71% of citizens believed that BTC did nothing to improve their family’s finances. Most importantly, only 2% of the country’s remittances were sent in Bitcoin.
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El Salvadoran Bank Cites Confidentially, Can’t Reveal Amount of BTC Purchases | CoinMarketCapcryptonews But not only was the BTC purchased using public funds, El Salvador’s president tweeted each time he purchased the cryptocurrency 🤔
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