Bitcoin tumbles 10% as El Salvador adopts it as legal tender

The price of bitcoin fell Tuesday after breaking through $52,000 late Monday, reaching its highest level since May. The price action comes on the day El Salvador is set to adopt the largest cryptocurrency by market cap as legal tender, becoming the first country to do so. The price of...
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El Salvador unplugs digital wallet to cope with bitcoin demand

El Salvador unplugged its digital wallet on Tuesday to cope with demand after the nation became the first country to adopt bitcoin as legal tender. El Salvador's president, Nayib Bukele, said on Twitter that the digital wallet, Chivo, was disconnected while it increased the capacity of its servers, The Associated Press reported.
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Bitcoin drops below $43,000 on El Salvador's first day using it

New York (CNN Business) — It's a volatile day for bitcoin, which briefly fell by more than 10% Tuesday — below the $43,000 mark. The drop comes after El Salvador made good on a plan announced in June and adopted the cryptocurrency as legal tender, making it the first country in the world to do so.
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NBC News

El Salvador hits snags as it adopts bitcoin as official currency, first country to do so

SAN SALVADOR — El Salvador rushed to iron out snags on Tuesday after becoming the first country to adopt bitcoin as legal tender. Chivo digital wallet became available on the app platforms hosted by Apple and Huawei shortly before midday local time Tuesday, after President Nayib Bukele, who pushed for adoption of the cryptocurrency and has promised $30 of bitcoin for each user, railed against the tech giants for not carrying the application.
The Verge

Crypto exchanges struggle as El Salvador adopts Bitcoin

Today, Bitcoin is becoming an official currency in El Salvador, and the markets and crypto exchanges seem to be struggling. On Tuesday morning, the price of Bitcoin plunged from around $50,000 down to under $43,000 according to Coinbase — it seems that the country’s official Bitcoin app also hasn’t been able to keep up.

El Salvador divided over making bitcoin legal tender

El Salvador has become the first country to adopt bitcoin as legal tender. President Nayib Bukele is betting on cryptocurrency to boost to the battered Salvadorian economy, but not everybody is convinced. CNN’s Rafael Romo reports.

El Salvador's world-first adoption of bitcoin endures bumpy first day

SAN SALVADOR, Sept 7 (Reuters) - El Salvador's historic adoption of bitcoin as legal tender on Tuesday was beset by teething problems, as an angry protest by mistrustful citizens, technological glitches and a dip in the cryptocurrency clouded the rollout. The bold experiment got off to a bumpy start when...

Bitcoin price plunges below $43K in minutes in crypto market rout

Bitcoin (BTC) fell sharply as trading continued on Sept. 7 as a volatile day took BTC price action below $43,000 in one of the most volatile days of the year. Data from Cointelegraph Markets Pro and TradingView captured the volatility as Bitcoin suddenly lost the psychological $50,000 level. The move...

Bitcoin rises back above $50,000

Sept 5 (Reuters) - Bitcoin rose 0.49% to $50,188.4 at 1004 GMT on Sunday, adding $245.24 to its previous close. The world's biggest and best-known cryptocurrency is up 81% from this year's low of $27,734 on Jan. 4. Ether , the coin linked to the ethereum blockchain network, rose 1.16%...

Microstrategy Avoids 'Multi-Billion Dollar Mistake' by Choosing Bitcoin Over Gold

Nasdaq-listed company Microstrategy has avoided a “multi-billion dollar mistake” by choosing to invest in bitcoin instead of gold. The company now holds about 108,992 bitcoins. ‘Multi-Billion Dollar Mistake’ Avoided. The Nasdaq-listed software company Microstrategy has avoided making a mistake that could have cost the company multi-billion dollars. CEO Michael Saylor...

Bitcoin Falls 11% In Selloff - Bitcoin was trading at $45,840.6 by 11:07 (15:07 GMT) on the Index on Tuesday, down 11.19% on the day. It was the largest one-day percentage loss since September 7. The move downward pushed Bitcoin's market cap to $919.1 billion, or 42.58% of the total cryptocurrency market cap....

BTC price further crushes resistance, nears $53K on El Salvador ‘Bitcoin Day’

Bitcoin (BTC) targeted $53,000 on Tuesday as fears of a fresh BTC price dip faded above crucial resistance. ”No going back” after El Salvador Bitcoin adoption. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting new highs of $52,960 on Bitstamp overnight. After a swift retest of the $51,000...

Is Bitcoin Losing Its Position As The Crypto Market's Leader?

Bitcoin prices have been doing well lately, following a steady, upward trend for the last several weeks as they climb toward the record high they set earlier this year. The world’s largest cryptocurrency by market capitalization reached $51,037.01 today, its highest since May 14, CoinDesk figures show. At this point, it had risen more than 75% since hitting a local low on June 22.

Bitcoin Prices Trade Near $50,000 After Hitting Fresh, Multi-Month High

Bitcoin prices have repeatedly hit multi-month highs today, rising to the most since May and then fluctuating within a reasonably tight range. The world’s most prominent digital currency climbed to $50,352.00 around 3 a.m. EDT, CoinDesk figures show. Later, around 10 a.m. EDT, it reached $50,374.97, additional CoinDesk data shows.