Bitcoin Investment: El Salvador Attributes Tourism Boom To Bitcoin
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Commenting on the topic, El Salvador President Nayib Bukele noted that this achievement was primarily due to the country’s adoption of BTC as legal tender and the promotion of sports like surfing. Bukele recently tweeted:
“Only a handful of countries have been able to bring their tourism back to pre-pandemic levels… The reasons behind it are mainly #Bitcoin and surfing. But domestic tourism is growing even more, mainly due to our crackdown on gangs.”
El Salvador’s “Bitcoin Beach” also attracted notable international attention and made the headlines globally.
Earlier this year, the Salvadoran Minister of Tourism, Morena Valdez, boasted that thanks to the implementation of its Bitcoin strategy, the country’s tourism had grown by 30%. She noted:
“El Salvador has become a good place to visit, invest and live. With the use of Bitcoin, tourism has increased by 30%. Tourists interested in the implementation of Bitcoin have a longer stay and spend more. Before Bitcoin, there was a daily spend of $113 to $150, now it is up to $200 a day.”
Key Bitcoin Levels to Watch — August 9
BTC has receded, again, from the $24K area, putting an end to its bullish pickup. The benchmark cryptocurrency currently rests atop the $23K mark after breaching my short-term trendline.
That said, traders expect the primary cryptocurrency to continue on a downward spiral to $21.7K if bulls fail to keep the $23K bottom in the coming hours.
Meanwhile, my resistance levels are at $24,000, $25,000, and $26,000, and my key support levels are at $23,000, $22,000, and $21,000.
Total Market Capitalization: $1.09 trillion
Bitcoin Market Capitalization: $440.9 billion
Bitcoin Dominance: 40.5%
Market Rank: #1
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