Bitcoin News: This is the first time in the history of the cryptocurrency world that it is facing such a development. Bitcoin is witnessing an attempt to become legal currency in El Salvador. El Salvador becomes the first country to officially recognize Bitcoin, with the move to make Bitcoin a legal currency.

 

 

El Salvador’s president, Nayip Bukele, announced in a statement that he will send the bill that will make Bitcoin a legal currency to Congress. This move is a first for the Bitcoin and cryptocurrency world.

In a video released at the Bitcoin 2021 conference in Miami, El Salvador’s President Nayip Bukele announced that he and the country’s digital wallet company Strike will be working together to build El Salvador’s modern financial infrastructure using Bitcoin technology.

Strike founder Jack Mallers said the move would resonate with the world as a “war-starting shot.” Mallers, who said that he lived in El Salvador for 3 months and that it was very difficult to even make a transfer there, stated that Bitcoin adoption would be easy because of this.

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More than 70% of El Salvador’s active population does not have a bank account. They are not in the financial system. They asked me to help me write a plan and they said they see Bitcoin as a premium currency and that we need to create a Bitcoin plan to help these people.”

While some countries take a very clear and harsh attitude towards Bitcoin, some countries approach this area more moderately. However, El Salvador will break new ground in the world by making Bitcoin a legal currency. This is very important for the cryptocurrency world. The co-existence of Bitcoin with fiat currencies may cause the balance of the traditional financial system to change. We will see the next process together.

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