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10G NETWORK INTRODUCED BY CHINA
China launched its first 10G broadband network in Sunan County, Hebei Province, on Sunday (April 20), marking a significant advancement in internet infrastructure. The launch is a collaborative work of Huawei and China Unicom, and it aims to deliver download speeds up to 9,834 Mbps, upload speeds of 1,008 Mbps, and latency as low as 3 milliseconds.
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The 50G Passive Optical Network (PON) technology, which powers the 10G network, improves data transmission over the current fiber-optic infrastructure. High-bandwidth uses of this technology include cloud computing, virtual and augmented reality, streaming 8K video, and integrating smart home devices.
For instance, downloading a full-length 4K movie (around 20 GB in size) typically takes about 7-10 minutes on a 1 Gbps connection. With the new 10G broadband network, the same 4K film can be downloaded in under 20 seconds.
#TeslaBitcoinHoldings #world #ChinaCrypto #USChinaTensions
China launched its first 10G broadband network in Sunan County, Hebei Province, on Sunday (April 20), marking a significant advancement in internet infrastructure. The launch is a collaborative work of Huawei and China Unicom, and it aims to deliver download speeds up to 9,834 Mbps, upload speeds of 1,008 Mbps, and latency as low as 3 milliseconds.
ADVERTISEMENT
The 50G Passive Optical Network (PON) technology, which powers the 10G network, improves data transmission over the current fiber-optic infrastructure. High-bandwidth uses of this technology include cloud computing, virtual and augmented reality, streaming 8K video, and integrating smart home devices.
For instance, downloading a full-length 4K movie (around 20 GB in size) typically takes about 7-10 minutes on a 1 Gbps connection. With the new 10G broadband network, the same 4K film can be downloaded in under 20 seconds.
#TeslaBitcoinHoldings #world #ChinaCrypto #USChinaTensions
Instability in market continued... Many liquidated... Many found new opportunities...
Share your stories for others to learn and understand how trade works.
#world #trading #globaltrade #usa #china #war
Share your stories for others to learn and understand how trade works.
#world #trading #globaltrade #usa #china #war
#USChinaTensions، All the gold recent volumes are coming from China, , ,
China is dethroning the US dollar hegemony, by increasing the gold price.
Two heavy weight countries are fighting directly. While the investors are trying to catch the train. .
#World Order Changing # Global Economic Meltdown Tsunami Is Just About to Unfold.
#Binance #Follow_Like_Comment
China is dethroning the US dollar hegemony, by increasing the gold price.
Two heavy weight countries are fighting directly. While the investors are trying to catch the train. .
#World Order Changing # Global Economic Meltdown Tsunami Is Just About to Unfold.
#Binance #Follow_Like_Comment
A Major U.S. Decision with Devastating Global Consequences
The Trump administration has dismantled 83% of USAID (United States Agency for International Development) programs, transferring the remaining 17% to the State Department.
This move is proving catastrophic for some of the world’s most vulnerable nations:
Myanmar: Earthquake relief halted, worsening civil unrest.
Afghanistan: Millions now without access to food and medical aid.
Sudan: 80% of community kitchens shut down, triggering famine and rising death tolls.
South Africa: Termination of HIV/AIDS programs puts thousands of lives at risk.
Experts warn that this decision has severely damaged America's global reputation — and countries like China, Russia, and India are quickly moving to fill the void.
This isn’t just the end of aid — it’s a crisis of humanity.
#world #crisis #US
The Trump administration has dismantled 83% of USAID (United States Agency for International Development) programs, transferring the remaining 17% to the State Department.
This move is proving catastrophic for some of the world’s most vulnerable nations:
Myanmar: Earthquake relief halted, worsening civil unrest.
Afghanistan: Millions now without access to food and medical aid.
Sudan: 80% of community kitchens shut down, triggering famine and rising death tolls.
South Africa: Termination of HIV/AIDS programs puts thousands of lives at risk.
Experts warn that this decision has severely damaged America's global reputation — and countries like China, Russia, and India are quickly moving to fill the void.
This isn’t just the end of aid — it’s a crisis of humanity.
#world #crisis #US
$BTC #china #usa #eu #world #economy 🛑 If this trade war isn’t contained swiftly, it could plunge the economy into depression and trigger widespread societal fallout. FIAT currencies are struggling to maintain their footing, while financial markets reverberate with the grim realities already unfolding on the ground.
Uncertainty in World financial markets
#world Stocks Market Collapsed
Let me tell you what’s Happening
World Stock markets today
🇭🇰 Hong Kong: -13.6%
🇹🇼 Taiwan: -9.6%
🇯🇵 Japan: -9.5%
🇮🇹 Italy: -8.4%
🇸🇬 Singapore: -8%
🇸🇪 Sweden: -7%
🇨🇳 China: -7%
🇨🇭 Switzerland: -7%
🇩🇪 Germany: -6.8%
🇪🇸 Spain: -6.4%
🇳🇱 Netherlands: -6.2%
🇦🇺 Australia: -6.2%
🇫🇷 France: -6.1%
🇬🇧 UK: -5.2%
🇲🇾 Malaysia: -4.5%
🇵🇭 Philippines: -4.3%
🇮🇳 India: -4.1%
🇷🇺 Russia: -3.8%
🇸🇦 Saudi: -3.3%
🇹🇷 Turkey: -2.8%
You all confuse What really happening in financial markets ?
Everywhere Cercuit Breakers are Hitting in Stockmarkets.
Deep Crashes Everywhere.
One after the 2020 Covid Crash.
The Reason ?
Trump Tariffs.
So your Next Questions will be
Whats all this ?
Where Market is Heading ?
Why Trump is doing this ?
Let's know the Reason.
US have Hit $32B Hit Debt Ceiling.
What Does that Mean ?
**They Cannot issue More Debt !**
So ?
Goverment Cannot Finance itself
Means ?
US government is Not able to finance its own Local government spending like Government employees salary, infrastructure etc.
Then?
Cannot they issue more tax , Raise Tax ?
How much do they actually Need ?
Full 32B$ immediately?
No !
**9B$ immediately to pay off**
Tax have been collected for 4B$
Rest 5B$ ? SHORT ?
Yes, they are only left with one option.
**Issue more debt out of thin air to refinance this 9B$ debt**
So why are they Not Doing Straight away ?
Interest Rates are High Now !
So ?
If they issue More Debt Now, at these High Rates, Government Have to Pay more.
So ?
Bring down interest Rates downwards.
So ?
**Raise tariffs , Bring Domestic Players to Markets, Boost Imports than Exports**.
Less inflation and less intrest rates by Next Month is trump's move.
So these all happening for this big chess move.
Yes.
For Now It's Not a Pullback. It's a downtrend untill we update with more confirmation
Till Then ?
Just follow what we say. We drop all the alpha and updates based on market moves and new data, so you can act the right way at the right time.
It was complete indepth analysis about world most top financial markets
Stay tuned.
@everyone
Follow me,like and share as well.
SYED IRFAN ABID BUKHARI
Let me tell you what’s Happening
World Stock markets today
🇭🇰 Hong Kong: -13.6%
🇹🇼 Taiwan: -9.6%
🇯🇵 Japan: -9.5%
🇮🇹 Italy: -8.4%
🇸🇬 Singapore: -8%
🇸🇪 Sweden: -7%
🇨🇳 China: -7%
🇨🇭 Switzerland: -7%
🇩🇪 Germany: -6.8%
🇪🇸 Spain: -6.4%
🇳🇱 Netherlands: -6.2%
🇦🇺 Australia: -6.2%
🇫🇷 France: -6.1%
🇬🇧 UK: -5.2%
🇲🇾 Malaysia: -4.5%
🇵🇭 Philippines: -4.3%
🇮🇳 India: -4.1%
🇷🇺 Russia: -3.8%
🇸🇦 Saudi: -3.3%
🇹🇷 Turkey: -2.8%
You all confuse What really happening in financial markets ?
Everywhere Cercuit Breakers are Hitting in Stockmarkets.
Deep Crashes Everywhere.
One after the 2020 Covid Crash.
The Reason ?
Trump Tariffs.
So your Next Questions will be
Whats all this ?
Where Market is Heading ?
Why Trump is doing this ?
Let's know the Reason.
US have Hit $32B Hit Debt Ceiling.
What Does that Mean ?
**They Cannot issue More Debt !**
So ?
Goverment Cannot Finance itself
Means ?
US government is Not able to finance its own Local government spending like Government employees salary, infrastructure etc.
Then?
Cannot they issue more tax , Raise Tax ?
How much do they actually Need ?
Full 32B$ immediately?
No !
**9B$ immediately to pay off**
Tax have been collected for 4B$
Rest 5B$ ? SHORT ?
Yes, they are only left with one option.
**Issue more debt out of thin air to refinance this 9B$ debt**
So why are they Not Doing Straight away ?
Interest Rates are High Now !
So ?
If they issue More Debt Now, at these High Rates, Government Have to Pay more.
So ?
Bring down interest Rates downwards.
So ?
**Raise tariffs , Bring Domestic Players to Markets, Boost Imports than Exports**.
Less inflation and less intrest rates by Next Month is trump's move.
So these all happening for this big chess move.
Yes.
For Now It's Not a Pullback. It's a downtrend untill we update with more confirmation
Till Then ?
Just follow what we say. We drop all the alpha and updates based on market moves and new data, so you can act the right way at the right time.
It was complete indepth analysis about world most top financial markets
Stay tuned.
@everyone
Follow me,like and share as well.
SYED IRFAN ABID BUKHARI
#world of the day
seven letter word
. factors
. account
eight letter word
. decision
. validate
I hope you will be able to win
seven letter word
. factors
. account
eight letter word
. decision
. validate
I hope you will be able to win
#ElonMusk #ArtificialIntelligence #world #binance #Web3
Глава ИИ-отдела Meta раскритиковал Илона Маска за теории заговора
Ян ЛеКун назвал Маска «опасностью для общества» и распространителем «безумных теорий заговора».
Публичный конфликт начался 27 мая, когда представитель корпорации высмеял пост бизнесмена о наборе сотрудников в стартап искусственного интеллекта xAI.
«Присоединяйтесь к xAI, если вы можете выдержать начальника, который утверждает, что хочет “максимально строгого поиска истины”, но извергает сумасшедшие теории заговора на своей собственной социальной платформе».
После этого Маск поставил под сомнение компетенцию ЛеКуна, спросив, какой «наукой он занимался последние пять лет».
В ответ вице-президент Meta заявил, что с 2020 года опубликовал «более 80 технических статей», но миллиардера это не убедило. В другом посте Маск намекнул , что его оппоненту не хватает сообразительности, чтобы управлять компанией, поэтому он «просто следует приказам».
2 июня ЛеКун опубликовал длинный пост, который озаглавил: «Мое мнение об Илоне Маске».
Начал разработчик с того, что владеет двумя машинами Tesla и уважает другие технологии компаний самого богатого человека в мире:
«Мне также нравится его позиция в отношении открытого исходного кода и патентов. Но я с ним совершенно не согласен по ряду вопросов. Я не согласен с тем, как он обращается со своими научными сотрудниками».
Маск также создал лишнюю «шумиху» обещаниями появления настоящего ИИ к 2025 году. Затем он обвинил бизнесмена в подрыве демократии.
«Говорите что хотите “традиционных СМИ”, но вы не сможете иметь достоверную информацию без профессиональных журналистов, работающих на свободную и разнообразную прессу. Демократия не может существовать без нее, поэтому только авторитарные враги демократии ругают средства массовой информации»
ЛеКун уверен, что Маск «без колебаний распространяет безумные теории заговора, пока они служат его интересам». Например, бизнесмен поддерживал PizzaGate и утверждал, что «нелегальные иммигранты подрывают выборы в США».
Ответа пост с критикой пока не последовало.
Глава ИИ-отдела Meta раскритиковал Илона Маска за теории заговора
Ян ЛеКун назвал Маска «опасностью для общества» и распространителем «безумных теорий заговора».
Публичный конфликт начался 27 мая, когда представитель корпорации высмеял пост бизнесмена о наборе сотрудников в стартап искусственного интеллекта xAI.
«Присоединяйтесь к xAI, если вы можете выдержать начальника, который утверждает, что хочет “максимально строгого поиска истины”, но извергает сумасшедшие теории заговора на своей собственной социальной платформе».
После этого Маск поставил под сомнение компетенцию ЛеКуна, спросив, какой «наукой он занимался последние пять лет».
В ответ вице-президент Meta заявил, что с 2020 года опубликовал «более 80 технических статей», но миллиардера это не убедило. В другом посте Маск намекнул , что его оппоненту не хватает сообразительности, чтобы управлять компанией, поэтому он «просто следует приказам».
2 июня ЛеКун опубликовал длинный пост, который озаглавил: «Мое мнение об Илоне Маске».
Начал разработчик с того, что владеет двумя машинами Tesla и уважает другие технологии компаний самого богатого человека в мире:
«Мне также нравится его позиция в отношении открытого исходного кода и патентов. Но я с ним совершенно не согласен по ряду вопросов. Я не согласен с тем, как он обращается со своими научными сотрудниками».
Маск также создал лишнюю «шумиху» обещаниями появления настоящего ИИ к 2025 году. Затем он обвинил бизнесмена в подрыве демократии.
«Говорите что хотите “традиционных СМИ”, но вы не сможете иметь достоверную информацию без профессиональных журналистов, работающих на свободную и разнообразную прессу. Демократия не может существовать без нее, поэтому только авторитарные враги демократии ругают средства массовой информации»
ЛеКун уверен, что Маск «без колебаний распространяет безумные теории заговора, пока они служат его интересам». Например, бизнесмен поддерживал PizzaGate и утверждал, что «нелегальные иммигранты подрывают выборы в США».
Ответа пост с критикой пока не последовало.
¡Atención a todos los seguidores de World Coin!
$WLD $WLD $WLD
¿Has estado siguiendo de cerca los recientes acontecimientos relacionados con World Coin?
🌐¿Que tal si compartimos opiniones?🌐
#Opiniones #WLD #world
$WLD $WLD $WLD
¿Has estado siguiendo de cerca los recientes acontecimientos relacionados con World Coin?
🌐¿Que tal si compartimos opiniones?🌐
#Opiniones #WLD #world
World Stock markets today
Let me tell you what’s Happening
World Stock markets today
🇭🇰 Hong Kong: -13.6%
🇹🇼 Taiwan: -9.6%
🇯🇵 Japan: -9.5%
🇮🇹 Italy: -8.4%
🇸🇬 Singapore: -8%
🇸🇪 Sweden: -7%
🇨🇳 China: -7%
🇨🇭 Switzerland: -7%
🇩🇪 Germany: -6.8%
🇪🇸 Spain: -6.4%
🇳🇱 Netherlands: -6.2%
🇦🇺 Australia: -6.2%
🇫🇷 France: -6.1%
🇬🇧 UK: -5.2%
🇲🇾 Malaysia: -4.5%
🇵🇭 Philippines: -4.3%
🇮🇳 India: -4.1%
🇷🇺 Russia: -3.8%
🇸🇦 Saudi: -3.3%
🇹🇷 Turkey: -2.8%
You all confuse What really happening in financial markets ?
Everywhere Cercuit Breakers are Hitting in Stockmarkets.
Deep Crashes Everywhere.
One after the 2020 Covid Crash.
The Reason ?
Trump Tariffs.
So your Next Questions will be
Whats all this ?
Where Market is Heading ?
Why Trump is doing this ?
Let's know the Reason.
US have Hit $32B Hit Debt Ceiling.
What Does that Mean ?
**They Cannot issue More Debt !**
So ?
Goverment Cannot Finance itself
Means ?
US government is Not able to finance its own Local government spending like Government employees salary, infrastructure etc.
Then?
Cannot they issue more tax , Raise Tax ?
How much do they actually Need ?
Full 32B$ immediately?
No !
**9B$ immediately to pay off**
Tax have been collected for 4B$
Rest 5B$ ? SHORT ?
Yes, they are only left with one option.
**Issue more debt out of thin air to refinance this 9B$ debt**
So why are they Not Doing Straight away ?
Interest Rates are High Now !
So ?
If they issue More Debt Now, at these High Rates, Government Have to Pay more.
So ?
Bring down interest Rates downwards.
So ?
**Raise tariffs , Bring Domestic Players to Markets, Boost Imports than Exports**.
Less inflation and less intrest rates by Next Month is trump's move.
So these all happening for this big chess move.
Yes.
For Now It's Not a Pullback. It's a downtrend untill we update with more confirmation
Till Then ?
Just follow what we say. We drop all the alpha and updates based on market moves and new data, so you can act the right way at the right time
Stay tuned.
@everyone
#TrumpTariffs #StopLossStrategies #world #Market_Update #BTCvsMarkets
World Stock markets today
🇭🇰 Hong Kong: -13.6%
🇹🇼 Taiwan: -9.6%
🇯🇵 Japan: -9.5%
🇮🇹 Italy: -8.4%
🇸🇬 Singapore: -8%
🇸🇪 Sweden: -7%
🇨🇳 China: -7%
🇨🇭 Switzerland: -7%
🇩🇪 Germany: -6.8%
🇪🇸 Spain: -6.4%
🇳🇱 Netherlands: -6.2%
🇦🇺 Australia: -6.2%
🇫🇷 France: -6.1%
🇬🇧 UK: -5.2%
🇲🇾 Malaysia: -4.5%
🇵🇭 Philippines: -4.3%
🇮🇳 India: -4.1%
🇷🇺 Russia: -3.8%
🇸🇦 Saudi: -3.3%
🇹🇷 Turkey: -2.8%
You all confuse What really happening in financial markets ?
Everywhere Cercuit Breakers are Hitting in Stockmarkets.
Deep Crashes Everywhere.
One after the 2020 Covid Crash.
The Reason ?
Trump Tariffs.
So your Next Questions will be
Whats all this ?
Where Market is Heading ?
Why Trump is doing this ?
Let's know the Reason.
US have Hit $32B Hit Debt Ceiling.
What Does that Mean ?
**They Cannot issue More Debt !**
So ?
Goverment Cannot Finance itself
Means ?
US government is Not able to finance its own Local government spending like Government employees salary, infrastructure etc.
Then?
Cannot they issue more tax , Raise Tax ?
How much do they actually Need ?
Full 32B$ immediately?
No !
**9B$ immediately to pay off**
Tax have been collected for 4B$
Rest 5B$ ? SHORT ?
Yes, they are only left with one option.
**Issue more debt out of thin air to refinance this 9B$ debt**
So why are they Not Doing Straight away ?
Interest Rates are High Now !
So ?
If they issue More Debt Now, at these High Rates, Government Have to Pay more.
So ?
Bring down interest Rates downwards.
So ?
**Raise tariffs , Bring Domestic Players to Markets, Boost Imports than Exports**.
Less inflation and less intrest rates by Next Month is trump's move.
So these all happening for this big chess move.
Yes.
For Now It's Not a Pullback. It's a downtrend untill we update with more confirmation
Till Then ?
Just follow what we say. We drop all the alpha and updates based on market moves and new data, so you can act the right way at the right time
Stay tuned.
@everyone
#TrumpTariffs #StopLossStrategies #world #Market_Update #BTCvsMarkets
Five stories to watch out for 2024 in the World
1. Vital Votes : Elections in the United States and Taiwan will be the important to decide the peace and stability of the World's future.
2. Taxis Take Off : Drones and UAV Technology will become important on greener and cleaner air travel.
3. AI rules : Politicians and governments are going to regulate AI Tech, but how they are going to do it will shape the future.
4. Industry clean up : After cleaning up more visible part of society like Vehicles and Energy Sector, Industrial sector will face more environmental regulation in 2024, but as it will effect their production efficiency, will they follow silently?
5. BRICS : US led world security and economy will be challenged by BRICS, middle powers collective, which will accept 5 more members in 2024. how will it goes?
Reference : The Economist
How will Crypto go through those global events in 2024!? be prepared !!
#GlobalEconomicEvents #economy #world #ai #trendingtoday
1. Vital Votes : Elections in the United States and Taiwan will be the important to decide the peace and stability of the World's future.
2. Taxis Take Off : Drones and UAV Technology will become important on greener and cleaner air travel.
3. AI rules : Politicians and governments are going to regulate AI Tech, but how they are going to do it will shape the future.
4. Industry clean up : After cleaning up more visible part of society like Vehicles and Energy Sector, Industrial sector will face more environmental regulation in 2024, but as it will effect their production efficiency, will they follow silently?
5. BRICS : US led world security and economy will be challenged by BRICS, middle powers collective, which will accept 5 more members in 2024. how will it goes?
Reference : The Economist
How will Crypto go through those global events in 2024!? be prepared !!
#GlobalEconomicEvents #economy #world #ai #trendingtoday
¡Atención a todos los seguidores de World Coin!
$WLD $WLD $WLD
¿Has estado siguiendo de cerca los recientes acontecimientos relacionados con World Coin?
🌐¿Que tal si compartimos opiniones?🌐
#Opiniones #wld #world
$WLD $WLD $WLD
¿Has estado siguiendo de cerca los recientes acontecimientos relacionados con World Coin?
🌐¿Que tal si compartimos opiniones?🌐
#Opiniones #wld #world
Analysis of Crypto Ownership Growth by Region (2023-2024)
Top Growth Regions:South America leads with a staggering growth of 116.5%, increasing from 25.5M crypto owners in 2023 to 55.2M in 2024.Oceania follows closely with 114.3% growth, rising from 1.4M to 3.0M owners.Moderate Growth:Europe exhibits significant growth of 60.3%, increasing its crypto owner base from 30.7M to 49.2M.North America sees a solid 38.6% growth, growing from 52.1M to 72.2M.Slow Growth Regions:Asia, despite having the largest number of crypto owners (268.2M in 2023 to 326.8M in 2024), experiences relatively low growth of 21.8%.Africa shows the slowest growth at 8.5%, increasing from 40.1M to 43.5M owners.
Key Insights:
South America and Oceania are emerging markets for crypto adoption, likely fueled by economic instability and interest in decentralized currencies.Asia remains the largest market by sheer volume but has reached a saturation point, resulting in slower growth.Africa, despite its potential, lags behind in growth, possibly due to infrastructural and regulatory challenges.
#world #crypto #Binance #BinanceSquareFamily #CryptoNewss
Key Insights:
South America and Oceania are emerging markets for crypto adoption, likely fueled by economic instability and interest in decentralized currencies.Asia remains the largest market by sheer volume but has reached a saturation point, resulting in slower growth.Africa, despite its potential, lags behind in growth, possibly due to infrastructural and regulatory challenges.
#world #crypto #Binance #BinanceSquareFamily #CryptoNewss
$XRP Keep above 2.75 and target 3! Have a good night/day everyone! 🌎🌙☀️ #goal s #Success #motivational #Sleep #world
Disclaimer: This information is for educational purposes only and is not financial advice. The goal is to help you learn and explore the world of investing, but please remember that all investments come with risks, and there are no guarantees of profit. Conduct your own thorough research and consult a financial advisor before investing. Past performance is not indicative of future results.
If you wouldn't mind following, liking, sharing, and commenting below, it would be a great help and motivate me to create more content for you. Thank you.
Disclaimer: This information is for educational purposes only and is not financial advice. The goal is to help you learn and explore the world of investing, but please remember that all investments come with risks, and there are no guarantees of profit. Conduct your own thorough research and consult a financial advisor before investing. Past performance is not indicative of future results.
If you wouldn't mind following, liking, sharing, and commenting below, it would be a great help and motivate me to create more content for you. Thank you.
Explore the future of trading with $OFN, powered by #OpenfabricAI As a standout player in the crypto market, #OFN is setting new standards for liquidity and profitability. Their innovative solutions and dedicated team offer unmatched advantages, making $OFN a must-watch investment. Don't miss the inc byredible potential and opportunities $OFN brings to the table. Major exchanges like #Binance should take notice of this high-profile opportunity in the rapidly growing digital currency #World !
#World
El Salvador’s Bitcoin Experiment Ends: What It Means for Crypto Policy.
El Salvador was the first country to adopt Bitcoin as legal tender, inspiring crypto enthusiasts worldwide. But three years later, parliament has repealed the law. The reasons behind this reversal—and its implications for Switzerland’s own Bitcoin debate—are worth examining.
Ambitious visions were abundant. El Salvador’s President Nayib Bukele promised his people financial freedom through Bitcoin. He envisioned a Bitcoin City, where crypto firms from around the world would establish themselves and mine digital currency.
The government even announced the world’s first Bitcoin sovereign bond. Bukele was heavily invested in Bitcoin’s success: According to the «NZZ» (paywalled article), he allocated $200 million in taxpayer money to the initiative—a staggering amount for a country on the brink of default.
Parliament Reverses the Decision
El Salvador was the first country in the world to declare Bitcoin an official currency in 2021—despite opposition from the International Monetary Fund (IMF). The move turned the nation into a showcase for Bitcoin proponents. Even in Switzerland, some crypto advocates frequently pointed to El Salvador as a pioneering project.
However, the country’s parliament has now pulled the plug, repealing the law. Bitcoin is no longer official legal tender.
Notably, the decision came just one day before a major international Bitcoin conference in San Salvador at the end of January.
El Salvador’s Bitcoin Experiment Ends: What It Means for Crypto Policy.
El Salvador was the first country to adopt Bitcoin as legal tender, inspiring crypto enthusiasts worldwide. But three years later, parliament has repealed the law. The reasons behind this reversal—and its implications for Switzerland’s own Bitcoin debate—are worth examining.
Ambitious visions were abundant. El Salvador’s President Nayib Bukele promised his people financial freedom through Bitcoin. He envisioned a Bitcoin City, where crypto firms from around the world would establish themselves and mine digital currency.
The government even announced the world’s first Bitcoin sovereign bond. Bukele was heavily invested in Bitcoin’s success: According to the «NZZ» (paywalled article), he allocated $200 million in taxpayer money to the initiative—a staggering amount for a country on the brink of default.
Parliament Reverses the Decision
El Salvador was the first country in the world to declare Bitcoin an official currency in 2021—despite opposition from the International Monetary Fund (IMF). The move turned the nation into a showcase for Bitcoin proponents. Even in Switzerland, some crypto advocates frequently pointed to El Salvador as a pioneering project.
However, the country’s parliament has now pulled the plug, repealing the law. Bitcoin is no longer official legal tender.
Notably, the decision came just one day before a major international Bitcoin conference in San Salvador at the end of January.
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