Wikipedia has listed Bitcoin as one of El Salvador's official currencies, soon after the country announced legalizing Bitcoin as a medium of exchange.
Wikipedia has listed Bitcoin (BTC) as one of El Salvador’s official currencies —shortly after, the country turned BTC into an official legal tender approved by a supermajority in the Salvadoran Congress.
El Salvador became the first country to accept Bitcoin as a legal tender. It will take 90 days for the law to be enacted, which will allow merchants and the general population to prepare.
Besides, the country will grant citizenship to anyone that invests Bitcoin into the nation’s economy.
The recent adoption by less-developed countries has given a lot of discussion to the crypto community. Many at first thought that first-world countries would be the first to pass laws to adopt Bitcoin as a legal tender or use blockchain technology.
But cryptocurrencies have proven to be alternative store values and a way to protect oneself from hyperinflation. Soon after El Salvador announced Bitcoin as a legal Tender, Paraguay started working on projects involving Bitcoin and PayPal. Likewise, Panamá is working on a proposal to embrace BTC and other cryptos as well.
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