NUEVO CUSCATLAN, El Salvador: Bitcoin enthusiasts meeting in El Salvador on Friday said a recent surge in the cryptocurrency’s value since Donald Trump’s US election win has heightened their expectations the price will rise further and it will be adopted more broadly globally.
Dozens of domestic and foreign ‘bitcoiners’ met at the Adopting Bitcoin conference just outside the Salvadoran capital, with the Central American country hyping its status as a hub for the promotion of digital currency trading.
Three years ago, President Nayib Bukele made El Salvador the first country in the world to establish Bitcoin as legal tender, alongside the US dollar. The decision drew criticism from the International Monetary Fund, with whom the country is negotiating a $1.3 billion loan.
Bitcoin, which was trading above $90,000 on Friday, rallied to an all-time high after Trump secured his new term in office, set to begin in January. Investors see the incoming president as a cryptocurrency champion who will slash regulations.
“Trump understands what it’s like to be a capitalist, he’s going to get out of the way and remove regulations that are not necessary,” said Charlie Stevens, a 27-year-old Irishman who has lived in El Salvador for a year and a half.
“Bitcoin is growing very, very fast, in front of the eyes of the whole world. And the whole world has its eyes on El Salvador,” he added.
Bukele’s office did not immediately respond to a request for comment.
The world’s biggest cryptocurrency has had a heady if volatile rise, trading at around $8,000 five years ago, and starting this year at around $42,000.
In January, Vice President Felix Ulloa told Reuters that El Salvador would remain committed to the digital currency, despite scarce use of Bitcoin among Salvadorans and some technical issues.
In El Salvador, crypto investors cheer Trump-powered Bitcoin rally
https://arab.news/6cuzb
In El Salvador, crypto investors cheer Trump-powered Bitcoin rally
- Three years ago, President Nayib Bukele made El Salvador the first country in the world to establish Bitcoin as legal tender
Campaigning starts in CAR election
- Both of Touadera’s top critics on the ballot paper, ex-Prime Minister Henri-Marie Dondra and the main opposition leader Anicet-Georges Dologuele, had feared they would be barred from the election over nationality requirements
BANGUI: Campaigning has kicked off in the Central African Republic, with the unstable former French colony’s voters set to cast their ballots in a quadruple whammy of elections on Dec. 28.
Besides national, regional and municipal lawmakers, Centrafri-cains are set to pick their president, with incumbent Faustin-Archange Touadera in pole position out of a seven-strong field after modifying the constitution to allow him to seek a third term.
Thousands of supporters packed into a 20,000-seater stadium in the capital Bangui on Saturday to listen to Touadera, accused by the opposition of wishing to cling on as president-for-life in one of the world’s poorest countries.
In his speech, Touadera, who was first elected in 2016 in the middle of a bloody civil war, styled himself as a defender of the country’s young people and insisted there was work to do to curb ongoing unrest.
“The fight for peace and security is not over,” the president warned the packed stands.
“We must continue to strengthen our army in order to guarantee security throughout the national territory and preserve the unity of our country.”
Both of Touadera’s top critics on the ballot paper, ex-Prime Minister Henri-Marie Dondra and the main opposition leader Anicet-Georges Dologuele, had feared they would be barred from the election over nationality requirements.
Touring the capital’s districts alongside a traveling convoy, Dologuele warned that the upcoming vote represents “a choice for national survival; a choice between resignation and hope.”
“Our people have experienced 10 years of this regime. Ten years of waiting, promises and suffering,” he added.
