It's official: El Salvador is Bedside Sailors movie (1976)the first country in the world to accept Bitcoin as legal tender.
The country passed the necessary legislation back in June, and today it went into effect, with President Nayib Bukele calling the moment historical.
This Tweet is currently unavailable. It might be loading or has been removed.
In practice, the new legislation means Bitcoin is now equal to El Salvador's legal fiat currency, which is the U.S. dollar, and Salvadorans can legally use Bitcoin for cash payments. Furthermore, businesses operating in the country will have to start accepting payments in Bitcoin if they have the technology to do so.
Bukele also announced (via Twitter) that the country purchased a total of 400 bitcoins so far, worth $20.3 million at writing time.
This Tweet is currently unavailable. It might be loading or has been removed.
El Salvador's move to accept Bitcoin is notable for several reasons. Besides giving Bitcoin more legitimacy as a global currency, it could help Salvadorans who live abroad send remittances at lower cost (Bitcoin transfers typically cost several dollars, regardless of the amount transferred). On the other hand, Bitcoin's volatility could cause problems for users. Bitcoin's price has risen or fallen sharply on numerous occasions, often in a matter of hours.
SEE ALSO: PayPal now lets UK customers buy and sell BitcoinEl Salvador's move to buy bitcoins is also notable. As the country adds more bitcoins to its treasury, its fate gets increasingly tied to the price of Bitcoin which, again, is known to rise and fall tremendously over fairly short periods of time. The country is already feeling the effects of its decision, having been downgraded by ratings agency Moody's following the pass of the Bitcoin law.
The price of Bitcoin rose sharply over the last 48 hours, from roughly $50,600 to $52,900 per coin, but it has since fallen back to around $50,800.
Topics Bitcoin Cryptocurrency
Boeing's new VR simulator immerses astronauts in space training
Hey Nokia, stop ruining our memories
Vero won’t be the new Instagram because Vero sucks
Google shows off ARCore software with Barcelona stadium Snapchat lens
Is it 'Thunderbolts*' or *The New Avengers'?
'Black Panther' broke records again with $108 million in weekend #2
The Samsung Galaxy S9 comes in purple and people don't know how to feel
'The Simpsons' predicted two wild Winter Olympics moments years ago
Best robot vacuum deal: Eufy Omni C20 robot vacuum and mop at record
He fooled an entire nation with a fake Facebook profile. Then I tracked him down.
Ireland fines TikTok $600 million for sharing user data with China
Rumor: Apple's iPhone X Plus existence may be revealed in new photos
BMW's new smartphone car key means you better not lose your phone
It's farewell to iTunes on old Apple TVs, Window PCs
Against Fear
'A Wrinkle in Time' will be free for underprivileged children at select theaters
Scary footage shows woman plunging into frozen lake to rescue stranded dog
'Beast from the East' brings snow and frigid conditions to Europe
Best robot vacuum deal: Save $200 on Eufy X10 Pro Omni robot vacuum
One Apple repair center has called 911 1,600 times in four months
Turkey's internet censorship is starting to look like China's 'Great Firewall'Rise Nation overcomes mass player defection to win 'Call of Duty' tourneyThis beautiful genius got a Game Boy Color to run 'Wolfenstein 3D'7 can't miss apps: 'Dots & Co.,' Facetune 2, Triller and moreRobots will walk you and drive you: Hyundai reveals its futureThis proposal photo has the internet totally delighted5 Lightning headphones to stuff in the stockings of iPhone 7 ownersTwitter is experimenting with breaking news alertsAcer is done selling smartphones in the world's fastest growing marketWhy people think these 'Rogue One' characters are gayTwitter is experimenting with breaking news alertsCats on Instagram wish you a meowy Christmas and a happy mew yearTesla will charge drivers who hog its SuperchargersWhy are these Tinder's most popular names of 2016? Only Google knowsAmy Schumer just bought her dad the most touching gift of all time5 Lightning headphones to stuff in the stockings of iPhone 7 ownersThis driverless bus is about to roll out in SingaporeYou’re secretly being trained to break your iPhone on purposeAdorable little boy really, really loves potatoes'Barry' director on race, identity and why the young Obama matters Tesla's self Jeff Bezos chose Medium for possibly the most important blog post of his life Tic Tac responds to Trump video 5 new features Twitter is testing in its iOS app Watch Tiffany Trump avoid her father's awkward big kiss Amazon, DoorDash will keep their controversial approach to driver tips Apple comes down hard on apps that record screen activity Man has the cutest reaction when his wife tells him she's pregnant ‘I’m a gentleman’ says Trump, who also said he grabs women by the p*ssy Apple isn't too happy about apps that secretly record your screen Samsung Galaxy S10e leaks in new photo and it is all yellow Chimp escape artists use branch to break out of their enclosure How Reddit is helping horror writers find success Rudy Giuliani stumped when attempting to defend Donald Trump on 'Meet The Press' Leak reveals Samsung 'Galaxy Buds' for S10 with wireless charging '2 Dope Queens' Season 2 serves all the looks and laughs: Review Some popular iPhone apps silently record your screen, report claims J.K. Rowling burns Donald Trump in 3 magical tweets Amazon reportedly rethinking HQ2 in New York City 'Goosebumps' author R.L. Stine reveals the 1 thing he thinks ruins horror
2.5711s , 10106.0625 kb
Copyright © 2025 Powered by 【Bedside Sailors movie (1976)】,Miracle Information Network