Salvadoran
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đ„đ„đ„ US Company Settles #Salvadoran #coffee Purchase With #bitcoinâïž
Salvadoran Coffee Batch Sold for Bitcoin, Cutting Out Middlemen
Salvadoran coffee producers are embracing Bitcoin for cross-border payments, eliminating the need for intermediaries.
According to the Ministry of Foreign Affairs, U.S.-based Compass Coffee purchased a batch of Salvadoran coffee using Bitcoin, allowing producers to receive fair prices directly.
This marks a significant step in using Bitcoin for commodity transactions. Salvadoran Ambassador to the U.S., Milena Mayorga, highlighted how the use of Bitcoin ensured competitive prices for producers without third-party cuts. She also emphasized that businesses across El Salvador can use Bitcoin for such transactions.
Jorge Cruz, a local coffee producer, revealed that the price obtained was two to three times higher than typical U.S. market quotes. The transaction was completed in under 10 minutes using Bitcoin, after an initial test batch had been sent to verify quality and approve pricing.
This deal followed a series of 2022 meetings between the Salvadoran Foreign Ministry and Compass Coffee to bring Salvadoran coffee to U.S. buyers. Compass Coffee COO, Chas Newman, praised the Salvadoran Embassyâs efforts in facilitating connections, helping local producers grow in the U.S. market. Compass Coffee also plans to enable direct Bitcoin tips to the producers from coffee buyers.
Source - news.bitcoin.com
#BinanceSquareBTC #CryptoMarkets
Salvadoran Coffee Batch Sold for Bitcoin, Cutting Out Middlemen
Salvadoran coffee producers are embracing Bitcoin for cross-border payments, eliminating the need for intermediaries.
According to the Ministry of Foreign Affairs, U.S.-based Compass Coffee purchased a batch of Salvadoran coffee using Bitcoin, allowing producers to receive fair prices directly.
This marks a significant step in using Bitcoin for commodity transactions. Salvadoran Ambassador to the U.S., Milena Mayorga, highlighted how the use of Bitcoin ensured competitive prices for producers without third-party cuts. She also emphasized that businesses across El Salvador can use Bitcoin for such transactions.
Jorge Cruz, a local coffee producer, revealed that the price obtained was two to three times higher than typical U.S. market quotes. The transaction was completed in under 10 minutes using Bitcoin, after an initial test batch had been sent to verify quality and approve pricing.
This deal followed a series of 2022 meetings between the Salvadoran Foreign Ministry and Compass Coffee to bring Salvadoran coffee to U.S. buyers. Compass Coffee COO, Chas Newman, praised the Salvadoran Embassyâs efforts in facilitating connections, helping local producers grow in the U.S. market. Compass Coffee also plans to enable direct Bitcoin tips to the producers from coffee buyers.
Source - news.bitcoin.com
#BinanceSquareBTC #CryptoMarkets
#Salvadoran teenager becomes Bitcoin teacher, no longer earning â6 dollars a dayâ
In a series of tweets, 18-year-old Gerardo Moran explained his journey back to his former high school in El Salvador, where he is now teaching senior professors about #Bitcoin.
#GOATMoments #BlockchainRevolution
In a series of tweets, 18-year-old Gerardo Moran explained his journey back to his former high school in El Salvador, where he is now teaching senior professors about #Bitcoin.
#GOATMoments #BlockchainRevolution
#Latam Insights: #Salvadoran Government Introduces #Bitcoin Banking Bill, #Bitcoin to Compete With Other Currencies in #Argentina
- **El Salvador's #Bitcoin Adoption and Bond Performance**: El Salvador's President Nayib Bukele's decision to adopt Bitcoin has initially concerned Wall Street. However, despite this, El Salvador's bonds have experienced a significant increase in value, rising by 70% this year. These bonds are now the top-performing USD #bonds in Emerging Markets, according to Bloomberg.
- **Contrasting Reactions**: The adoption of Bitcoin by the El #Salvadoran #government has generated mixed reactions, with some initial concerns expressed by Wall Street. However, the subsequent positive performance of El Salvador's bonds suggests that the decision has led to favorable outcomes for bond investors and the country's bond market.
- **Bitcoin #Adoption and Financial Markets**: The link between El Salvador's Bitcoin adoption and the performance of its bonds highlights the complex interactions between cryptocurrency adoption, financial markets, and investor sentiment. The increase in bond values underscores the potential for unique economic and financial dynamics resulting from government-led cryptocurrency initiatives.
$BTC $WBTC $BTTC
- **Contrasting Reactions**: The adoption of Bitcoin by the El #Salvadoran #government has generated mixed reactions, with some initial concerns expressed by Wall Street. However, the subsequent positive performance of El Salvador's bonds suggests that the decision has led to favorable outcomes for bond investors and the country's bond market.
- **Bitcoin #Adoption and Financial Markets**: The link between El Salvador's Bitcoin adoption and the performance of its bonds highlights the complex interactions between cryptocurrency adoption, financial markets, and investor sentiment. The increase in bond values underscores the potential for unique economic and financial dynamics resulting from government-led cryptocurrency initiatives.
$BTC $WBTC $BTTC
