Group items tagged

A Bloomberg reporter tells the story of how he tried to pay all his bills in El Salvador in Bitcoin using the Chivo wallet during a five-day visit. It didn't go so well. Only 10 of almost 50 businesses had taken his Bitcoin, amounting to $485 out of $1,700 he spent. And only four crypto transactions had been entirely seamless. He also paid $40 in Bitcoin fees, such as levies for transferring the currency between Coinbase and his digital wallet. His Visa, by contrast, paid him $20 in cash-back rewards.

The El Salvador government has launched a proof-of-reserves website to provide real-time on-chain transparency of its Bitcoin holdings. The government currently holds 5,748 Bitcoin currently worth about $350 million. They were bought at an average cost of $43,097 per Bitcoin, for a substantial unrealized profit. https://nayibtracker.com/