0 SHARES Share TweetSan Salvador, El Salvador, June 9 – Bitcoin is to become legal tender in El Salvador, the country’s president said, making it the first nation to adopt a cryptocurrency for everyday use. “The #BitcoinLaw has just been approved by a qualified majority” in the legislative assembly, President Nayib Bukele tweeted after the vote late Tuesday. El Salvador’s main currency is the US dollar and it remains unclear how the country plans to implement bitcoin as a functioning currency. — ‘On the world’s radar’ —Before the vote, Bukele said adopting the cryptocurrency would bring “financial inclusion, investment, tourism, innovation and economic development” to the country. Between the beginning of 2020 and a peak in mid-April of $64,870, the price of bitcoin gained nearly 800 percent.

Source: Daily Nation June 09, 2021 09:22 UTC