Economy, Americas

El Salvador holding meeting on Bitcoin with participation of 44 countries

President Nayib Bukele says central banks and financial authorities to discuss issues related to digital economy

Aysu Bicer   | 16.05.2022
El Salvador holding meeting on Bitcoin with participation of 44 countries

ANKARA

Central bank and financial authorities from 44 countries worldwide are gathering on Monday in El Salvador to discuss issues related to the digital economy, especially the cryptocurrency Bitcoin, the nation has announced.

Set to attend the event are officials from countries such as Paraguay, Angola, Ghana, Namibia, Uganda, Guinea, Madagascar, Haiti, Burundi, Eswatini (Swaziland), Jordan, Gambia, the Honduras, Maldives, Rwanda, Nepal, Kenya, Pakistan, Costa Rica, Ecuador, Egypt, Nigeria, Senegal, Dominica, Mauritania, Congo, Armenia, and Bangladesh, said an announcement late Sunday.

Last September El Salvador became the first country to adopt Bitcoin as legal tender.

President Nayib Bukele previously said his country bought 500 Bitcoins at an average price of $30,744.

This means the small Central American nation, population of 6.5 million, has spent almost $15.4 million in total on its latest purchase.

Bitcoin was traded at $29,756.8 on Monday, falling 3.96% since the previous trading session.

Over the last four weeks, Bitcoin lost 26.13%, amid a larger wave of steep losses in the global cryptocurrency market.


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