Asset management firm VanEck expressed optimism at El Salvador’s bold Bitcoin (CRYPTO: BTC) bet, terming it as a model of innovation for the emerging world.
What Happened: A report penned by Matthew Sigel, VanEck’s Head of Digital Assets Research, took stock of the Central American nation’s experience with Bitcoin and its positive impact.
The report highlighted that nearly 8% of Salvadorans have used Bitcoin for transactions by 2024, terming it a “meaningful step” forward for a country with traditionally low electronic payment adoption rates.
Sigel touched down on the country’s soaring Bitcoin reserves, which represented 1.6% …
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