Today, let's talk about El Salvador. When it comes to Bitcoin, you must know El Salvador,

A country that became the first in the world to accept Bitcoin as legal tender in 2021.

Starting in November 2022, President Bu of El Salvador announced that their government will start buying one Bitcoin every day. El Salvador also launched the first Bitcoin mine powered by volcanic geothermal power, launched a government-designed digital wallet application, and set up a batch of Bitcoin ATMs.

If you want to describe El Salvador in three words, it is inseparable from high crime rate, high murder rate, gangs and violence. It is also known as one of the most dangerous countries in the world.

Before 2021, the US dollar was the only legal tender in the country. Until 2021, the Salvadoran Congress officially voted to pass the Bitcoin bill. The world has the first country to use Bitcoin as legal tender.

The move of the fund to use Bitcoin as legal tender has been criticized by many. Ethereum co-founder Vitalik Buterin also believes that the behavior of the President of El Salvador is a wrong demonstration.

The International Monetary Fund also asked El Salvador to repeal their Bitcoin bill. The economic situation in El Salvador is not optimistic. At the end of 2021, the country's debt accounted for 85% of GDP, but after adopting Bitcoin, El Salvador's GDP grew by 10.3% in the first year.

As a country with a large number of poor people, El Salvador's Internet penetration rate is only 45%. Bitcoin becoming legal currency seems to be extremely unfavorable for people struggling on the poverty line.

But even so, in February of this year, 94% of Salvadorans still planned to vote for Bukele to continue to serve as president, and did not give up their support for him because of the Bitcoin plan.

A venture capitalist known for Bitcoin price predictions said that Bitcoin may be El Salvador's transformation from the poorest and most crime-ridden country to one of the most innovative countries in the next 30 or 40 years.

Like contracts, like to study the market, and study technology. Click on the avatar. I have increased my income by about 30 times in a month. Free sharing. I am online at any time. Welcome to discuss and make progress together. #MemeWatch2024 #机构积极投资比特币ETF $BTC $ETH