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Day 7 – A Country Made Bitcoin Legal Tender… and It Wasn’t the U.S. 🇸🇻
> 🌐💥 Crypto Fact of the Day
In 2021, El Salvador became the first country in the world to declare Bitcoin as legal tender.
That means:
You can use BTC to pay for anything — from coffee to taxes.
Businesses are required to accept Bitcoin by law.
Even the government launched a crypto wallet called Chivo and gave citizens $30 in BTC to onboard them.
President Nayib Bukele even announced plans to build a “Bitcoin City” powered entirely by a volcano (yes, seriously 🌋) and funded by Bitcoin-backed bonds.
While the world watched nervously, El Salvador made history — proving that crypto isn’t just for tech bros anymore. It’s now part of national policy.
#CryptoFacts #ElSalvadorCryptoWealth r #BitcoinLegalTender #btcadoption #ChivoWallet
> 🌐💥 Crypto Fact of the Day
In 2021, El Salvador became the first country in the world to declare Bitcoin as legal tender.
That means:
You can use BTC to pay for anything — from coffee to taxes.
Businesses are required to accept Bitcoin by law.
Even the government launched a crypto wallet called Chivo and gave citizens $30 in BTC to onboard them.
President Nayib Bukele even announced plans to build a “Bitcoin City” powered entirely by a volcano (yes, seriously 🌋) and funded by Bitcoin-backed bonds.
While the world watched nervously, El Salvador made history — proving that crypto isn’t just for tech bros anymore. It’s now part of national policy.
#CryptoFacts #ElSalvadorCryptoWealth r #BitcoinLegalTender #btcadoption #ChivoWallet
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El Salvador and Cryptocurrencies: Innovation or Distraction in a Stagnant Economy?
In September 2021, El Salvador made history by adopting Bitcoin as legal tender, a bold bet promoted by President Nayib Bukele. The stated goal was to promote financial inclusion, reduce remittance costs, and attract foreign investment. However, two years later, the impact on the real economy remains limited, while structural challenges persist that hinder growth.
The Promise of Bitcoin
- Financial inclusion: 70% of the population did not have access to banking services. The state wallet #ChivoWallet aimed to democratize digital transactions.
The Promise of Bitcoin
- Financial inclusion: 70% of the population did not have access to banking services. The state wallet #ChivoWallet aimed to democratize digital transactions.
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