El Salvador is the world’s first country that plans to adopt Bitcoin as legal tender. President, Nayib Bukele, plans to introduce a bill that will make it the world’s first nation to adopt bitcoin as legal tender.
El Salvador’s plans were introduced during the Bitcoin conference in Miami. Bukele broadcast his intentions on a video live at the conference.
How Bitcoin will be scaled across the country remains unsolved. Bukele commented that the country partnered with Strike to build the necessary infrastructure for the project.
Already next week, Bukele will send a bill to the congress that will make Bitcoin legal tender.
Founder of Strike, Jack Mallers, commented the following:
“What’s transformative here is that bitcoin is both the greatest reserve asset ever created and a superior monetary network. Holding bitcoin provides a way to protect developing economies from potential shocks of fiat currency inflation.”Jack Mallers