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Money: bumper start to the Bitcoin era in El Salvador

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more than half a year after the world's first introduction of Bitcoin as legal means of payment, the balance sheet in El Salvador is mixed up so far.

Ein Geschäft in Chiltuipan, das Bitcoin akzeptiert. El Salvador hat als erstes Land der Welt die Kryptowährung eingeführt. © Camilo Freedman / Sopa Images via Zuma Wire / DPA A business in Chiltitanipan accepting Bitcoin. El Salvador has introduced the crypto currency as the first country in the world.

Tourism is in the upswing: Over Easter, many hotels are fully booked in the Central American country, Tourism Minister Morena Valdez said on Thursday in the TV channel TCS. Since the introduction of the digital currency on September 7, tourism has increased by 30 percent, she had announced ten days earlier. Tourists interested in Bitcoin also stayed longer and gave more money. There is also great interest in investment from abroad.

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The edition of a ten-year-old bitcoin bond planned for March amounted to a billion US dollar, however, remained out of date - according to Finance Minister Alejandro Zelaya is the right moment waited. The bond is to finance the construction of a Bitcoin city at the foot of the Conchagua volcano according to plans of the authoritarian government Nayib Bukele. The energy for the impact of the crypto currency is intended to produce a geothermal power plant on the volcano.

System is punctification

On September 7, El Salvadors Bitcoin law came into force. According to him, every dealer who is technically capable of accepting the crypto. Also tax can be paid in it. The digital purse Chivo was introduced - who downloaded you got a start credit worth $ 30 (just under 28 euros). In addition, around 200 Chivo ATMs were set up. However, the Chivo system suffers from breakers after media reports.

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also haperted at the acceptance of the new currency in the population. In a survey carried out in December, the University of UCA gave a total of 70.1 percent of the nearly 1300 participants to have little or no confidence in Bitcoin. More than a fifth did not know about own information, which is bitcoin. About 70 percent of the inhabitants of El Salvadors, where since 2001, the US dollar is used as a means of payment instead of their own currency, according to the government no bank account.

majority of companies do not use Bitcoin

The Chamber of Commerce and Industry interviewed the small and medium-sized enterprises in January. From them, almost 92 percent gave them, the Bitcoin introduction had no impact on their business. 86 percent had therefore not used the means of payment.

of the International Monetary Fund (IMF), with which El Salvador negotiates a credit package of $ 1.3 billion, called for the country in January to remove the status as statutory means of payment due to major financial risks. The crypto currency is subjected to violent price fluctuations.

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