As part of a $1.4 billion loan agreed with the International Monetary Fund in December, the government’s involvement with the digital Chivo wallet will be “gradually unwound.” At the end of January, on a vote of 55-2, El Salvador’s Legislative Assembly passed modifications to the Bitcoin law, eliminating the word “currency” but keeping it legal tender. The changes will take effect May 1, 90 days after the legislation appeared in the official newspaper.
“Bitcoin no longer has the strength of legal tender,” economist Rafael Lemus told AFP. “It should have always been that way, but the government tried to force it into existence, and it didn’t work.”
Users are now free to accept Bitcoin or not, but it cannot be used to pay taxes or state bills. President Nayib Bukele admitted that introducing Bitcoin as an official currency alongside the US dollar in September 2021—the world’s first such move—had been his government’s “most unpopular” measure, alongside stringent anti-gang security measures.
El Salvador still has 688 Bitcoin in reserve, worth an estimated $574 million, of which $287 million is profit.
On February 13, Bukele and Microstrategy Executive Chairman Michael Saylor discussed how Bitcoin adoption could be accelerated worldwide, with El Salvador’s National Bitcoin Office considering establishing nodes in each household. The aim was to boost public perception of how Bitcoin can work in daily settings.
“President Bukele continues to buy Bitcoin, we have a Bitcoin Office, we have the Bitcoin Law, Bitcoin can be used in El Salvador,” El Salvador’s ambassador to the US, Milena Mayorga, assured at a Bitcoin conference.” But, “it has not been an easy road.” A survey published by the Jesuit Central American University in January revealed 92% of Salvadorans had not used Bitcoin in 2024. Of the 8% who said they had done so, the average was only 14 times a year. Family remittances via digital wallets amounted to $7.22 million in December 2024, less than 1% of the total sent.
"WASHINGTON — The Trump administration is paying roughly $6 million for El Salvador to jail the 238 Venezuelan gang suspects deported Sunday, according to the White House.
That works out to roughly $25,000 per detainee — a 43% discount on average US prison costs."
“It was approximately $6 million to El Salvador for the detention of these foreign terrorists,” press secretary Karoline Leavitt said at her regular briefing Monday.
“I would point out that is pennies on the dollar in comparison to the cost of life and the cost it would impose on the American taxpayer to house these terrorists and maximum security prisons here in the United States of America.”
So, just how many of those "gang SUSPECTS" would actually be sentenced to prison and for what crimes? I suppose that is a moot question since Trump does not believe in due process for anyone except himself.
The US government has contracted with El Salvador to pay $3 million a year to run this gulag, and Trump wants to expand the arrangement. So, WE are paying.
Unbelievable disgusting & Horrifying, I’m traveling internationally soon & I’m worried about getting back into the states, or what other horror’s will happen while I’m gone?
Not so sure safe to travel internationally and try to come back with a name like Madrid (though it’s a beautiful name) but ICE will only look at the Spanish connection.
I’m American citizen, Have all the proper ids, I’m actually white, But I am very political & that’s where they won’t going to like me, I’m stripping my phone down to just the basics & Won’t be on any social media while I’m out of the country, All my accounts will be deactivated until I come back,
I'm supposed to travel internationally in May, but the thought of going through US immigration upon my return is frightening, even though I am a native-born citizen.
You're connecting the dots as everyone Liberal should; you don't sound to me like a nutty conspiracy theorist at all. Remember, anything regarding tRumputin-eVIlonmusk-jdvance-mikejohnson-karolinleavitt-petehegseth-russvought.... is worse than the worst you assume. I'm frustrated by, as the excellent Andrea Chalupa says, the wonderful naive optimism in Liberals that creates the lethal to ourselves complacency, I want Liberals be much more vigilant, self-defensive, assertive, counteroffensive with every means!!! I want Liberals be the lions, not donkeys!!!
Follow the money!!! Who is paying El Salvador and how much?
Is el Salvador paying orangmutan personally for supplying slave labour. Wouldn't put it beyond him😂
Oh absolutely! Small hands knows no other language!
Off mike Trump indicated he wanted more El Salvador prisons to house "homegrowns." IMHO he meant "homeboys." .
El Salvador is also in the crypto currency business with El Trumpo.
E.G. El Salvador’s heralded adoption of Bitcoin as legal tender appears to be undergoing a significant downgrade as businesses are no longer obliged to accept the cryptocurrency. https://gfmag.com/economics-policy-regulation/el-salvador-drops-bitcoin-legal-tender/
As part of a $1.4 billion loan agreed with the International Monetary Fund in December, the government’s involvement with the digital Chivo wallet will be “gradually unwound.” At the end of January, on a vote of 55-2, El Salvador’s Legislative Assembly passed modifications to the Bitcoin law, eliminating the word “currency” but keeping it legal tender. The changes will take effect May 1, 90 days after the legislation appeared in the official newspaper.
“Bitcoin no longer has the strength of legal tender,” economist Rafael Lemus told AFP. “It should have always been that way, but the government tried to force it into existence, and it didn’t work.”
Users are now free to accept Bitcoin or not, but it cannot be used to pay taxes or state bills. President Nayib Bukele admitted that introducing Bitcoin as an official currency alongside the US dollar in September 2021—the world’s first such move—had been his government’s “most unpopular” measure, alongside stringent anti-gang security measures.
El Salvador still has 688 Bitcoin in reserve, worth an estimated $574 million, of which $287 million is profit.
On February 13, Bukele and Microstrategy Executive Chairman Michael Saylor discussed how Bitcoin adoption could be accelerated worldwide, with El Salvador’s National Bitcoin Office considering establishing nodes in each household. The aim was to boost public perception of how Bitcoin can work in daily settings.
“President Bukele continues to buy Bitcoin, we have a Bitcoin Office, we have the Bitcoin Law, Bitcoin can be used in El Salvador,” El Salvador’s ambassador to the US, Milena Mayorga, assured at a Bitcoin conference.” But, “it has not been an easy road.” A survey published by the Jesuit Central American University in January revealed 92% of Salvadorans had not used Bitcoin in 2024. Of the 8% who said they had done so, the average was only 14 times a year. Family remittances via digital wallets amounted to $7.22 million in December 2024, less than 1% of the total sent.
WE are!!!
The taxpayers of this country are paying El Salvador $6 million. There is reason to suspect that it is only the first of many such payments.
"WASHINGTON — The Trump administration is paying roughly $6 million for El Salvador to jail the 238 Venezuelan gang suspects deported Sunday, according to the White House.
That works out to roughly $25,000 per detainee — a 43% discount on average US prison costs."
“It was approximately $6 million to El Salvador for the detention of these foreign terrorists,” press secretary Karoline Leavitt said at her regular briefing Monday.
“I would point out that is pennies on the dollar in comparison to the cost of life and the cost it would impose on the American taxpayer to house these terrorists and maximum security prisons here in the United States of America.”
https://nypost.com/2025/03/17/us-news/us-paying-el-salvador-6m-to-jail-venezuela-gang-suspects-pennies-on-the-dollar/
So, just how many of those "gang SUSPECTS" would actually be sentenced to prison and for what crimes? I suppose that is a moot question since Trump does not believe in due process for anyone except himself.
The US government has contracted with El Salvador to pay $3 million a year to run this gulag, and Trump wants to expand the arrangement. So, WE are paying.
Unbelievable disgusting & Horrifying, I’m traveling internationally soon & I’m worried about getting back into the states, or what other horror’s will happen while I’m gone?
Do not travel with any previously used electronic devices. Get new ones with no past history. Clean.
Not so sure safe to travel internationally and try to come back with a name like Madrid (though it’s a beautiful name) but ICE will only look at the Spanish connection.
I’m American citizen, Have all the proper ids, I’m actually white, But I am very political & that’s where they won’t going to like me, I’m stripping my phone down to just the basics & Won’t be on any social media while I’m out of the country, All my accounts will be deactivated until I come back,
I'm supposed to travel internationally in May, but the thought of going through US immigration upon my return is frightening, even though I am a native-born citizen.
Trump. And ALOT . America first ? What Bs
by looting the American taxpayers.
We are. Last I heard was 6 million dollars.
Stephanie Woods, you got it! Spot on follow the money 🎯💯
You're connecting the dots as everyone Liberal should; you don't sound to me like a nutty conspiracy theorist at all. Remember, anything regarding tRumputin-eVIlonmusk-jdvance-mikejohnson-karolinleavitt-petehegseth-russvought.... is worse than the worst you assume. I'm frustrated by, as the excellent Andrea Chalupa says, the wonderful naive optimism in Liberals that creates the lethal to ourselves complacency, I want Liberals be much more vigilant, self-defensive, assertive, counteroffensive with every means!!! I want Liberals be the lions, not donkeys!!!