He set the ball rolling on Monday evening by announcing El Salvador had bought its first 400 bitcoins, in two tranches of 200, and promised more were coming.
The bill, an initiative of Bukele, was approved within 24 hours of being presented to Congress — where the president's allies have held a majority since March. For its part, the Salvadoran Foundation for Economic and Social Development said it was "unconstitutional" to make it compulsory for merchants to accept bitcoin as a form of payment.
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Factbox: Pros and cons for El Salvador, the first bitcoin nationEl Salvador will on Tuesday become the first country in the world to recognize bitcoin as legal tender, a move President Nayib Bukele says will save Salvadorans living abroad millions of dollars in commissions on money they send home. Internet shut down in haryana FarmersProstest Be serious please 🤣 Great idea but might be too early. Wondering how many of the population have BITCOIN Wallets and the country's Central Bank monetary policy. With Bitcoin volatility, they might have no control. Anyway, why not experiment and see.
Source: Reuters - 🏆 2. / 97 Read more »
Factbox: Pros and cons for El Salvador, the first bitcoin nationEl Salvador will on Tuesday become the first country in the world to recognize bitcoin as legal tender, a move President Nayib Bukele says will save Salvadorans living abroad millions of dollars in commissions on money they send home. Internet shut down in haryana FarmersProstest Be serious please 🤣 Great idea but might be too early. Wondering how many of the population have BITCOIN Wallets and the country's Central Bank monetary policy. With Bitcoin volatility, they might have no control. Anyway, why not experiment and see.
Source: Reuters - 🏆 2. / 97 Read more »