Paraguay Declares Bitcoin Legal Tender, BTC to $125K?
President Peña revealed that the government has already secured $5 million worth of Bitcoin as part of its national reserves.
In a major announcement, Santiago Peña, President of the Republic of Paraguay Economist, shared on Twitter that Bitcoin is now officially legal tender in Paraguay.
In his presidential speech, Peña called it a “historic achievement in the economic transformation of our nation.” He explained that after thorough reviews and expert consultations, he added, “I enacted legislation that formally recognizes Bitcoin as a legal tender currency in our large country.”
“This bold decision has its roots in our unbreakable commitment to financial innovation, economic sovereignty and inclusive growth,” Peña said. Along with this news, President Peña revealed that the government has already secured $5 million worth of Bitcoin as part of its national reserves.
