{"id":562769,"date":"2021-06-06T04:00:23","date_gmt":"2021-06-06T04:00:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/06\/el-salvador-is-going-all-in-on-btc\/"},"modified":"2021-06-06T04:00:23","modified_gmt":"2021-06-06T04:00:23","slug":"el-salvador-is-going-all-in-on-btc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/06\/el-salvador-is-going-all-in-on-btc\/","title":{"rendered":"El Salvador is going all in on BTC"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>El Salvador may become the first country to make BTC its legal tender in the <\/strong><strong>coming weeks<\/strong>, <a href=\"https:\/\/www.cnbc.com\/2021\/06\/05\/el-salvador-becomes-the-first-country-to-adopt-bitcoin-as-legal-tender-.html\">CNBC<\/a> reports. In a video statement to a global bitcoin event (<a href=\"https:\/\/twitter.com\/BitcoinBnkr\/status\/1401304531422547968\">watch, runtime: 1:21<\/a>), President Nayib Bukele said he had formed a partnership with digital epayments firm Strike to create the infrastructure for a crypto-based financial system and that he would send a bill to parliament next week.<\/p>\n<p><strong>Emerging market stocks are expected to benefit the most from the global <\/strong><strong>economic reopening <\/strong>after lagging behind their developed-market counterparts this year, with the MSCI Emerging Markets Index performing better than the MSCI World Index for the first time since January, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-04\/emerging-market-stocks-in-pole-position-to-gain-as-world-reopens?sref=mmeFTDW1\">Bloomberg<\/a> reports. Attractive valuations, a weaker USD, the expected recovery of global supply chains, and higher global commodity prices are all likely to boost the appeal of emerging-market stocks. <strong>While analysts expect the MSCI index to jump about 20% over the coming 12 months<\/strong>, their exposure to inflation, as well as a potential spike in commodity prices, could put a cap on the run.<\/p>\n<p><strong>The US Federal Reserve plans to begin the great unwinding of one of its <\/strong><strong>emergency stimulus programs<\/strong> and will start selling down its holdings of corporate debt bought in response to the covid market crash last year, it said in <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20210602a.htm\">a statement<\/a> last Wednesday, without providing a timeframe. The sale of holdings in the Secondary Market Corporate Credit Facility, which includes corporate bonds purchased in the secondary market and exchange-traded funds that invest in corporate bonds, will be \u201cgradual and orderly\u201d and will aim to avoid triggering market backlash, the central bank said.<\/p>\n<p><strong>US investors will be barred from investing in Huawei and 58 other Chinese tech <\/strong><strong>and defence companies as of 2 August, <\/strong>under a new executive order signed Thursday that aims to prevent US capital from being used to fund potential national security threats, the <a href=\"https:\/\/www.ft.com\/content\/91e6fb2a-6385-49b3-83aa-8044374805c4\">Financial Times<\/a> reports.<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,055<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: -7.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.64<\/p>\n<\/td>\n<td>\n<p>Sell 15.74<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.64<\/p>\n<\/td>\n<td>\n<p>Sell 15.74<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>10,698<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +23.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>6,606<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +30.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,824<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +13.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,229<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +12.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,069<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +9.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 71.89<\/p>\n<\/td>\n<td>\n<p>+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.10<\/p>\n<\/td>\n<td>\n<p>+1.8%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,892.00<\/p>\n<\/td>\n<td>\n<p>+1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 35,168<\/p>\n<\/td>\n<td>\n<p>-5.6% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>T<\/strong><strong>he EGX30 fell 0.7% at Thursday\u2019s close<\/strong> on turnover of EGP 1.51 bn (13.9% above the 90-day average). Foreign investors were net sellers. The index is down 7.3% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ibnsina Pharma (+2.5%), Pioneers Holding (+2.3%) and Telecom Egypt (+2.0%).<\/p>\n<p><strong>In the red: <\/strong>CI Capital (-4.8%), Fawry (-2.0%) and Qalaa Holding (-1.9%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador may become the first country to make BTC its legal tender in the coming weeks, CNBC reports. In a video statement to a global bitcoin event (watch, runtime: 1:21), President Nayib Bukele said he had formed a partnership with digital epayments firm Strike to create the infrastructure for a crypto-based financial system and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[107,344,2727,115,72,164,119,183,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562769","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-covid-19","tag-cryptocurrency","tag-el-salvador","tag-emerging-markets","tag-enterpriseam","tag-equities","tag-financial-markets","tag-fintech","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"6ee142a3-6a59-45f5-9bab-2e1e98f3aa65","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[562741],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>El Salvador is going all in on BTC - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/06\/el-salvador-is-going-all-in-on-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Salvador is going all in on BTC\" \/>\n<meta property=\"og:description\" content=\"El Salvador may become the first country to make BTC its legal tender in the coming weeks, CNBC reports. 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BTC\u2019s value sat\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556451,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/26\/msci-em-index-rises-off-of-better-than-expected-earnings\/","url_meta":{"origin":562769,"position":1},"title":"MSCI EM index rises off of better than expected earnings","author":"enterpriseam admin","date":"26 October 2021","format":false,"excerpt":"Things are looking up for EM equities on the MSCI Emerging Market (EM) Index, buoyed by constituent companies reporting better-than-expected earnings, reportsBloomberg. The market is now waiting on results from index heavyweights Samsung Electronics, China Construction Bank, and Sberbank of Russia to come in later this week, potentially extending the\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562543,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/27\/msci-em-currency-index-soars\/","url_meta":{"origin":562769,"position":2},"title":"MSCI EM currency index soars","author":"enterpriseam admin","date":"27 May 2021","format":false,"excerpt":"MSCI\u2019s emerging market currency index soared to a new record high yesterday as investors turned to EMs following the US Federal Reserve\u2019s announcement of its plans to keep interest rates low and maintain its stimulus program, despite inflationary pressures, Reutersreports. The USD dropped to its lowest level since January, while\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542536,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/2021-was-the-year-of-the-everything-rally\/","url_meta":{"origin":562769,"position":3},"title":"2021 was the year of the \u201ceverything rally\u201d","author":"enterpriseam admin","date":"2 January 2022","format":false,"excerpt":"2021 was the year of the \u201ceverything rally,\u201d as financial markets enjoyed a record-breaking comeback fueled by governments and central banks rolling out huge support programs, writes the Financial Times. The MSCI All-Country World index of global stock markets rose to USD 756.40 on Wednesday, compared to USD 645.29 on\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559107,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/10\/what-the-markets-are-doing-on-10-january-2021\/","url_meta":{"origin":562769,"position":4},"title":"What the markets are doing on 10 January 2021","author":"enterpriseam admin","date":"10 January 2021","format":false,"excerpt":"MARKET WATCH- Friday was a record-breaking day for emerging markets: EM stocks reached a record high during Friday\u2019s session after their fastest rally in history amid a flood of liquidity and optimism over a global recovery driving risk appetite, says Bloomberg. The recovery from the Great Covid Crash of 2020\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558677,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/investors-flock-to-etfs-to-mitigate-china-risk-btc-headed-for-50k\/","url_meta":{"origin":562769,"position":5},"title":"Investors flock to ETFs to mitigate China risk + BTC headed for 50k?","author":"enterpriseam admin","date":"22 August 2021","format":false,"excerpt":"Wary of Beijing\u2019s tech smackdown, some EM investors are trying to avoid China: Equity investors who prefer emerging markets yet fear Beijing's escalating regulatory crackdown are putting their money in an exchange-traded fund (ETF) that tracks emerging market equities excluding China, Bloomberg reports. The USD 1.2 bn iShares MSCI Emerging\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=562769"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562769\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562741"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562769"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562769"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}