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Only a few days after making the cryptocurrency&nbsp;Bitcoin&nbsp;a legal tender, El Salvador witnessed its first large protest against the Nayib Bukele&nbsp;government.
Thousands gathered in El Salvador's capital on Wednesday for the first mass march against President Nayib&nbsp;Bukele&nbsp;who protesters say has concentrated too much power, and becoming "a dictator."
Also read/watch: Why Bitcoin&nbsp;made legal tender in El Salvador?
A few demonstrators protesting the controversial Bitcoin decision vandalized the special ATM machines set up to handle Bitcoin transactions, but which have been inoperable anyway for much of the week.
Officials rolled out a digital wallet known as the &ldquo;Chivo&rdquo; one week ago, but the system has been down frequently for maintenance.
Also read/watch:&nbsp;Missed Bitcoin? No worries, here are 5 affordable cryptos you can invest in
Some marchers wore T-shirts that read &ldquo;NO To Bitcoin.&rdquo; The cubicle housing one ATM machine was destroyed.

El Salvador Protest: 'No to Bitcoin' slogan gains traction as President faces backlash

El Salvador witnessed its first large protest against the Nayib Bukele&nbsp;government, days after making the cryptocurrency&nbsp;Bitcoin its legal tender

El Salvador: Thousands protests against Nayib Bukele's controversial Bitcoin decision

Protesters say Nayib&nbsp;Bukele has concentrated too much power, and becoming "a dictator."

Only a few days after making the cryptocurrency&nbsp;Bitcoin&nbsp;a legal tender, El Salvador witnessed its first large protest against the Nayib Bukele&nbsp;government.
Thousands gathered in El Salvador's capital on Wednesday for the first mass march against President Nayib&nbsp;Bukele&nbsp;who protesters say has concentrated too much power, and becoming "a dictator."
Also read/watch: <a href="https://www.editorji.com/story/cryptocurrency-bitcoin-faces-it-s-biggest-test-as-it-becomes-a-legal-tender-in-el-salvador-1631003951213" target="_blank">Why Bitcoin&nbsp;made legal tender in El Salvador?</a>
A few demonstrators protesting the controversial Bitcoin decision vandalized the special ATM machines set up to handle Bitcoin transactions, but which have been inoperable anyway for much of the week.
Officials rolled out a digital wallet known as the &ldquo;Chivo&rdquo; one week ago, but the system has been down frequently for maintenance.
Also read/watch:&nbsp;<a href="https://www.editorji.com/story/crypto-corner-missed-bitcoin-no-worries-here-are-5-affordable-cryptos-you-can-invest-in-1630483003299" target="_blank">Missed Bitcoin? No worries, here are 5 affordable cryptos you can invest in</a>
Some marchers wore T-shirts that read &ldquo;NO To Bitcoin.&rdquo; The cubicle housing one ATM machine was destroyed.

Cryptocurrency : President Nayib Bukele even taunted the International Monetary Fund as he thanked the organisation for the dip in the Bitcoin prices.

Bitcoin Day: El Salvador's Nayib Bukele buys the dip, taunts IMF

As El Salvador becomes the first nation to formalize cryptocurrency&nbsp;Bitcoin&nbsp;as its legal tender, President Nayib&nbsp;Bukele&nbsp;was seen following 'buy the dip' strategy a bit too seriously.

Nayib Bukele buys the Bitcoin dip, taunts IMF

Bitcoin&nbsp;prices, in the last 24 hours, fell from as high as $52,700 to touch a low of $43,285.

As El Salvador becomes the first nation to formalize cryptocurrency&nbsp;Bitcoin&nbsp;as its legal tender, President Nayib&nbsp;Bukele&nbsp;was seen following 'buy the dip' strategy a bit too seriously.
"Buying the dip... 150 new coins added," Nayib&nbsp;Bukele&nbsp;tweeted as the South American nation celebrates&nbsp;Bitcoin&nbsp;Day.&nbsp;He added that El Salvador now holds 500 Bitcoins&nbsp;as it had added 400 previously in two tranches.
Bitcoin&nbsp;prices, in the last 24 hours, fell from as high as $52,700 to touch a low of $43,285. Although, it was now trading above $46,000.
Also Read:&nbsp;<a href="https://www.editorji.com/story/cryptocurrency-bitcoin-faces-it-s-biggest-test-as-it-becomes-a-legal-tender-in-el-salvador-1631003951213" target="_blank">Cryptocurrency Bitcoin faces it's biggest test as it becomes a legal tender in El-Salvador</a>
President Nayib&nbsp;Bukele&nbsp;even taunted the International Monetary Fund as he thanked the organisation for the dip in the Bitcoin&nbsp;prices.
Crypto experts, however, blame a mass liquidation of leveraged positions for the recent crash in <a href="https://www.editorji.com/story/bitcoins-make-their-way-into-cricket-match-fixing-betting-1618552811754" target="_blank">Bitcoin&nbsp;</a>prices.

Cryptocurrency Bitcoin is El Salvador's legal tender officially from Tuesday, as planned by its President Nayib Bukele. 

Cryptocurrency Bitcoin becomes El Salvador's legal tender; a look at Nayib Bukele's recent moves

El Salvador has become the first country to adopt cryptocurrency&nbsp;Bitcoin&nbsp;as legal tender, a plan spearheaded&nbsp;by its young President&nbsp;Nayib&nbsp;Bukele.

Cryptocurrency Bitcoin faces it's biggest test as it becomes a legal tender in El-Salvador

President Nayib&nbsp;Bukele's&nbsp;plan to use&nbsp;cryptocurrency&nbsp;bitcoin as El Salvador's legal tender has come into effect&nbsp;

Cryptocurrency&nbsp;Bitcoin&nbsp;is El Salvador's legal tender officially from Tuesday, as planned by its President Nayib&nbsp;Bukele.&nbsp;With this, El Salvador&nbsp;has become the&nbsp;first country to accept Bitcoin&nbsp;as its currency.
The step is believed to cut billions spent as commission&nbsp;every&nbsp;year for&nbsp;sending money home. Although, some say it may give a push to money laundering.
President Nayib&nbsp;Bukele&nbsp;is aiming&nbsp;to allow Salvadorans to save $400 million spent annually in commissions for&nbsp;remittances mostly sent from the U.S. Remittances to El Salvador amounted to $6 billion last year, almost one-forth of its GDP.
Bitcoin's&nbsp;technology allows transferring money across borders at a very minimal cost.
Also Read:&nbsp;<a href="https://www.editorji.com/story/bitcoin-day-el-salvador-s-nayib-bukele-buys-the-dip-taunts-imf-1631076785960" target="_blank">Bitcoin Day: El Salvador's Nayib Bukele buys the dip, taunts IMF</a>
The country bought 400 <a href="https://www.editorji.com/story/bitcoins-make-their-way-into-cricket-match-fixing-betting-1618552811754" target="_blank">bitcoins </a>ahead of the roll-out, with a market value of about $20 million at current prices.
El Salvador government&rsquo;s launched Bitcoin wallet Chivo&nbsp;comes pre-loaded with $30 worth of the currency for users who register with a Salvadoran national ID number.&nbsp;
Bukele&rsquo;s administration has installed 200 Bitcoin ATMs around the country that can be used to exchange the <a href="https://www.editorji.com/story/cryptocurrency-explained-bitcoin-to-blockchain-10-words-you-need-to-know-1623841223834" target="_blank">cryptocurrency </a>for U.S. dollars.
However, people remain hesitant of the new law as a poll last week by El Salvador&rsquo;s Universidad Centroamericana Jose Simeon Canas found his Bitcoin law is widely unpopular. Two-thirds of respondents said the law should be repealed while more than 70% said they prefer to use U.S. dollars instead.&nbsp;

El Salvador becomes the first nation to sanction&nbsp;Bitcoin&nbsp;as its legal tender. The Central American country's&nbsp;President Nayib Bukele submitted his proposed Bitcoin Law to the legislative assembly on June 8, which got 62 out of 84 votes.
In the&nbsp;Bitcoin&nbsp;Law papers, the president mentioned that&nbsp;in order to promote the economic growth of the nation, it is necessary to authorize the circulation of a digital currency whose value answers exclusively to free-market criteria.
All economic agents that are technologically capable of receiving BTC as payment "must" accept Bitcoin as payment. Although instant conversion to USD is made available to anyone who doesn&rsquo;t want to take price risk.
Alluring the crypto&nbsp;space all over the world,&nbsp;President Nayib Bukele&nbsp;had also tweeted saying&nbsp;there will be no capital gains tax for Bitcoin and also announced&nbsp;immediate permanent residence for crypto entrepreneurs.

Bitcoin becomes legal tender in this country; you can also get immediate PR!

El Salvador becomes the first nation to sanction&nbsp;Bitcoin&nbsp;as its legal tender. 
@balajis @naval @sandeepnailwal @NischalShetty @BuddhaSource @nrjkhandelwal @smtgpt @AjeetK @CoinSwitchKuber
 El Salvador takes the lead, Do you think India will follow?

El Salvador becomes the first nation to sanction&nbsp;Bitcoin&nbsp;as its legal tender. The Central American country's&nbsp;President Nayib Bukele submitted his proposed Bitcoin Law to the legislative assembly on June 8, which got a "historic" 62 out of 84 votes.
In the&nbsp;Bitcoin&nbsp;Law papers, the president mentioned that&nbsp;in order to promote the economic growth of the nation, it is necessary to authorize the circulation of a digital currency whose value answers exclusively to free-market criteria.
All economic agents that are technologically capable of receiving BTC as payment "must" accept Bitcoin as payment. Although instant conversion to USD is made available to anyone who doesn&rsquo;t want to take price risk.
Alluring the crypto&nbsp;space all over the world,&nbsp;President Nayib Bukele&nbsp;had also tweeted saying&nbsp;there will be no capital gains tax for Bitcoin and also announced&nbsp;immediate permanent residence for crypto entrepreneurs.

el salvador

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