El Salvador: World's First Country to Adopt Bitcoin as Legal Tender?

[DEAD7]

El Salvador: World's First Country to Adopt Bitcoin as Legal Tender?


In a video broadcast to Bitcoin 2021, a multiday conference in Miami being billed as the biggest bitcoin event in history, President Nayib Bukele announced El Salvador's partnership with digital wallet company, Strike, to build the country's modern financial infrastructure using bitcoin technology.

Strike founder and CEO Jack Mallers said this will go down as the "shot heard 'round the world for bitcoin...."

Speaking from the mainstage, Mallers said the move will help unleash the power and potential of bitcoin for everyday use cases on an open network that benefits individuals, businesses, and public sector services... While details are still forthcoming about how the rollout will work, CNBC is told that El Salvador has assembled a team of bitcoin leaders to help build a new financial ecosystem with bitcoin as the base layer. "It was an inevitability, but here already: the first country on track to make bitcoin legal tender," said Adam Back, CEO of Blockstream.

 

[Jahbarri]

Nobody cares about El Salvador unfortunately

 

[Cole Cash]

Nobody cares about El Salvador unfortunately

might be because instead of letting communists come into power and do something for the people, the united states decided to train death squads to rape nuns, murder women and children and assassinate a catholic bishop.

 

[Payday23]

US government pulled up and El Salvador is keeping the USD as it's main legal tender

 

[Ezra]

These countries economies, as well as bitcoin are still pinned to the dollar, as it's the global reserve currency.

 

[null]

not mandatory apparently ..

"The president addressed widespread concerns that bitcoin use might become mandatory in El Salvador—which will continue to use the U.S. dollar as legal tender—reassuring citizens the “use of bitcoin will be optional,” Reuters reported. "

"The U.S. dollar has been the official currency in El Salvador since 2001, which bitcoin will join, not replace, as legal tender. The decision to adopt the cryptocurrency as legal tender—a world first—was met with both trepidation and excitement around the world. For enthusiasts, it was a sign of things to come, and numerous lawmakers around the world have expressed support for fostering widespread use of digital currencies. Skeptics, meanwhile, voiced concerns over transparency, the environmental impact of bitcoin, and the practicalities of implementing it on the ground. El Salvador’s ambitious three month timeline to implement the law, which Bukele’s statement suggests is unchanged, was imperiled in mid June when the World Bank rejected the country’s request to help it implement the crypto as legal tender, citing risks to the environment and of financial"

Adults In El Salvador To Get $30 In Bitcoin As Nation Unveils Details To Make Crypto Legal Tender

 

[EndDomination]

might be because instead of letting communists come into power and do something for the people, the united states decided to train death squads to rape nuns, murder women and children and assassinate a catholic bishop.