Bitcoin recovered some of its lost ground in the last 24 hours following a crypto crash.

After former US President Donald Trump labelled Bitcoin a “scam” and said he doesn’t like it “because it’s another currency competing against the dollar”, the markets saw a massive sell-off from Sunday into Monday morning.

After Bitcoin (BTC) tumbled 9% in that period – mirroring many of the other majors – it regained 2% from Monday morning to Tuesday, almost reaching $33,500.

It remains around half of its record value, set just a few weeks ago, while the recent falls took the overall market cap of cryptocurrencies below $1.5 trillion for the first time since May.

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Category: News | Views: 157 | Added by: danyagames2007 | Date: 09.06.2021 | Comments (0)

El Salvador President Nayib Bukele has just tweeted about sending a draft version of his Bitcoin bill to Congress.

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Most importantly, the bill contains a provision that would make it mandatory for “every economic agent” to accept Bitcoin payments.

The government will also ensure that the cryptocurrency is instantly convertible to U.S. dollars to mitigate any volatility issues.   

The decree states that prices may be expressed in Bitcoin, but the greenback will still be used as a reference currency.

Bitcoin transactions won’t be subject to capital gain tax. Moreover, Salvadorans will be able to pay their tax contributions in the flagship cryptocurrency.

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Category: News | Views: 183 | Added by: danyagames2007 | Date: 09.06.2021 | Comments (0)

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