The eyes of the world are on the experiment in El Salvador, which in 201 became the first country to adopt bitcoin as its official currency. Has it been a success or is it a policy destined to fail? The Twitter accounts to follow bitcoin price in el salvador they can give you some answers.
In September 2021, Salvadoran President Nayib Bukele made official his government’s decision to convert bitcoin into the country’s official currency along with the dollar. The installation of bitcoin ATMs, mining through thermal energy or the construction of a “Bitcoin city” are some of the initiatives that have followed.
However, the initiative has not been without criticism. At the local level, the operation of Chivo Wallet, the official wallet to manage bitcoins, is questioned, and economists question the financial viability of the project. From abroad, agencies such as the International Monetary Fund (IMF) also issued warnings.
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If you want to keep abreast of the latest movements, these are the Twitter accounts that will help you follow the price of bitcoin in El Salvador.
Nayib Bukele (@nayibbukele)
When he took office as president of El Salvador in 2020, Nayib Bukele surprised with a particular style on social networks: his cabinet of ministers (and the dismissal of some) communicated them through Twitter. Today, any policy that promotes it is announced through this platform, including the purchase of bitcoins. So if you want to know when the country made a purchase or sale of cryptocurrencies, the Bukele account is a must.
El Salvador Bitcoin Portfolio Tracker (@SalvadorTracker)
This is one of the best accounts to know the performance of El Salvador’s assets in cryptocurrencies. Accompanied by graphs, El Salvador Bitcoin Portfolio Tracker publishes almost every day a summary with the amount of bitcoins held by the country, the average purchase price, and the country’s accumulated gains or losses.
My First Bitcoin (@MyfirstBitcoin_)
My First Bitcoin is a non-governmental organization that seeks to educate about the use of cryptocurrencies and that has focused on El Salvador, for being the first country to adopt bitcoin. He offers talks on how to use cryptocurrencies. The entity was founded by the American journalist John Dennehy, who defines himself as an activist for decentralization.
Goat Wallet (@chivowallet)
Chivo Wallet is the official bitcoin and dollar digital wallet of the government of El Salvador, which allows you to send and receive currency without commission. In addition, it allows you to convert the cryptocurrency into dollars or vice versa. On his Twitter account, he informs about the bitcoin recharge points and other benefits associated with their use, in addition to resolving doubts about the operating problems reported by users.
Bitcoin DayIndex (@BitcoinDayIndex)
This is another index that monitors the evolution of bitcoin on Twitter with an emphasis on El Salvador. Every hour, the Bitcoin Day Index publishes the price of the cryptocurrency and its equivalence to the US dollar. Also, compare this scenario to September 2021, the day bitcoin became official in El Salvador.
Ricardo Castaneda Ancheta (@Recasta)
The volatility of a crypto asset like bitcoin should be irrelevant, except for those who have voluntarily decided to invest in it. Unfortunately in El Salvador it involves public resources and that affects the entire population. Where in addition the social cost is very high.
— Ricardo Castaneda Ancheta (@Recasta) January 21, 2022
Ricardo Castañeda is an economist at the Central American Institute for Fiscal Studies (Icefi) for El Salvador and Honduras. He has been critical of the bitcoin adoption process in the country and regularly publishes documents and comments on the country’s fiscal scenario.