El Salvador aims to be the first country in the world to introduce Bitcoin as legal tender

The President of El Salvador, Nayib Bukele, announced during a video conference on Bitcoin this Saturday that the country wants to become the first nation in the world to adopt cryptocurrency as legal tender.

Bukele has stated in detail that he is working with the Strike company to build an infrastructure for the use of Bitcoin and that the bill will be sent to the legislative assembly this week, reports the Salvadoran newspaper El Mundo.

For his part, Strike founder and CEO Jack Mallers stressed that this announcement will be “a shot that will be heard around the world”.

El Salvador aims to be the first country in the world to introduce Bitcoin as legal tender
El Salvador aims to be the first country in the world to introduce Bitcoin as legal tender

“What is transformative here is that Bitcoin is both the largest reserve asset ever created and a superior currency network. Holding Bitcoin provides a way to protect developing economies from potential inflation shocks, ”he added.

This bill has yet to be reviewed by the Legislative Assembly, although the Salvadoran President retains a similar majority in that Chamber.

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