Thumbnail Source: https://radioyskl.com/2021/06/15/es-un-rumor-el-gobierno-lo-va-a-definir-a-nivel-general-ministro-sobre-el-pago-de-salarios-con-bitcoin/
Rolando Castro, Minister of Labour and Social Welfare in El Salvador, has publicly announced that it is too early for El Salvador to adopt Bitcoin (BTC) in wage payments, going against reports of this consideration a few days ago.
The Supposed Considerations
On the 15th of June, a tweet from local radio station 107.7 Fuego claimed that three government ministries were considering having company workers have their wages in BTC. As a note, according to their Twitter biography, Fuego is "Radio # 1 of the modern adult in El Salvador. Music, entertainment, talks, sports, news and opinion" (translated from Google Translate). The consideration was revealed by Rolando Castro, who has been mentioned earlier to have contrary opinions on the possibility today. The tweet from 107.7 Fuego is shown below with an English translation of the tweet beneath translated from Google Translate. It can be visited here: https://twitter.com/1077Fuego/status/1404821535660167168.
The Minister of @TrabajoSV, @RolandoCastroSv assured that after the approval of Bitcoin, it is being analyzed whether companies will have to pay the salary to their jobs through virtual currency. The official assured that @EconomiaSV and @HaciendaSV discuss the issue.
Assumingly from the tweet/talk, Castro says that the decision to pay workers in BTC will come after BTC lawfully has a legal tender status for El Salvador, working with the Ministries of the Economy Finance in analysing the decision.
The Denial
Earlier today Castro tweeted against such claims, directly responding to one tweet from media publisher El Mundo (literally means 'the world') that states the significant supposed considerations described in the preceding section and linking its news article. The article can be visited here (in Spanish): https://diario.elmundo.sv/gobierno-de-el-salvador-analiza-el-pago-de-salarios-en-bitcoins/.
In his tweet, Castro directly exposes the article, stating that he has never had such talk on wages, focusing on more and better jobs. He also goes on to say it goes for the economic cabinet that he is not part of. This means that the published facts from earlier were all incorrect according to Castro's tweet, with no correlation whatsoever to BTC wage payments. The tweet from Castro is shown below with a Google Translation beneath in English. It can be visited here: https://twitter.com/RolandoCastroSv/status/1405038555097964544.
Clarification. At no time have I raised that, when asked I only said that it was too premature to talk about wages, that I am focused on finding more and better jobs. The monetary issue corresponds to the economic cabinet of which I am not part. (THREAD)
Castro also makes another post to his tweet's thread, going against El Mundo that he has gone against earlier. He sounds angry at El Mundo's article, stating that he clarified it early on for El Mundo to publish it. The El Salvador Minister also puts out media misrepresentation and defamation on Álvaro Cruz Rojas, a Central-American journalist and editor-in-chief of El Mundo. The tweet thread message is shown below with the translation from Google Translate beneath. It can be visited here: https://twitter.com/RolandoCastroSv/status/1405039713858338818.
I clarified it early and a few minutes ago @ElMundoSV publishes it. I DO NOT understand what the negative fixation of @alvarocruzrojas is of publishing non-existent news just for damaging. Be minimally decent report do not distort reality
BTC Trend Briefing
Over the past 24 hours, BTC has had a small drop of about 2%, though did break the $41k mark early today.
For the past 7 days, BTC has performed well, having a decent gain of 16.7% at the time of writing, which is incredible with the majority of other cryptocurrencies within the top 100 according to market cap have had losses over the past 7 days. This 7 day gain is one of the top ones standing at 7th place (5th place when considering BTC alternatives Huobi BTC (HBTC) and Wrapped Bitcoin (WBTC)).
BTC appears to have become relatively stable now, not facing great crashes experienced over the past weeks, steadily forming a recovering road. It is possible that a recovery run will occur, though it is possible that the recovery will remain stable for a long time before such trends occur.
The current statistics of BTC are as follows:
Price - $39,211.18
24h Price change - $-781.38 (-1.95%)
24h low / 24h high - $39,213.73 / $41,295.27
24h Trading volume - $38,017,598,346.76 (-18.05%)
Market dominance - 44.97%
Market rank - 1st
Further Reading
CryptoPotato - El Salvador Considers Paying Workers Salaries in Bitcoin - https://cryptopotato.com/el-salvador-considers-paying-workers-salaries-in-bitcoin/
be[in]crypto - El Salvador Minister Clarifies Bitcoin Salary Payment Stipulations - https://beincrypto.com/el-salvador-bitcoin-salary-payment-stipulations/
CoinTelegraph - El Salvador minister says it’s too early to use Bitcoin for wages - https://cointelegraph.com/news/el-salvador-minister-says-it-s-too-early-to-use-bitcoin-for-wages
