President of El Salvador announces plan to introduce Bitcoin as legal tender in his country

Nayib Bukele, President of El Salvador, announced this Saturday at the 2021 Bitcoin Conference, which has been held in Miami since June 4th, his intention to submit a proposal to his country’s Congress to make Bitcoin legal tender in the Salvadoran economy.

Bukele’s announcement came with the presentation that Jack Mallers, CEO of Zap and had been working with Strike on the beaches of El Salvador for a few months now, to drive the adoption of Bitcoin among various population groups.

Right away, The Salvadoran President said that one of the obvious motivations for his decision came after seeing that “central banks are taking more and more measures that could damage the economic stability of El Salvador,” adding, in order to limit that damage, it was necessary to “authorize the circulation of a digital currency with an offer that cannot be controlled by any central bank”.

President of El Salvador announces plan to introduce Bitcoin as legal tender in his country
President of El Salvador announces plan to introduce Bitcoin as legal tender in his country

The exact text of the proposal mentioned by Bukele is not known, but he mentioned in the same conference that The proposal would be presented to Congress next week so that it could approve the measure in accordance with the legal procedures established in El Salvador.

â ???? The first bitcoin countryâ ????

In the midst of the ad’s own euphoria, Bukele specifically said that El Salvador was the first country in the world to make Bitcoin legal tender in its economy.

However, this particular title is not entirely clear in comparison with other nations, the excitement in social networks and important personalities of the Bitcoin community such as Anthony Pompliano or Adam backHaving even put the latter in command to add technology to make this plan a reality, they have repeated the decision to cheer it on.

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