El Salvador’s President Calls For Bitcoin As Legal Tender

Share post:

El Salvador’s President Nayib Bukele has declared his intention to make bitcoin the nation’s legal tender.

In a recorded message played at a bitcoin conference in Maimi, the president said he would send bills to the country’s congress to ensure that bitcoin becomes legal tender in the country.

He described the adoption of the cryptocurrency as an idea that could move El Salvador forward, while further commenting on Twitter, his preferred means of communication.

He said that much of the $6 billion in remittances to intermediaries had been lost and that bitcoin could benefit more than a million low-income families.

For him, bitcoin could be “the fastest growing way to transfer 6 billion dollars a year in remittances.”

For more information, read the original story in NPR.

Featured Tech Jobs

SUBSCRIBE NOW

Related articles

Seattle software engineer ignites viral debate on employee loyalty with LinkedIn post

A Seattle-based software engineer, Alex Nguyen, recently ignited a significant debate on LinkedIn with a post that celebrated...

AT&T has nationwide service outage

AT&T's nationwide service outage, which disrupted the ability for many customers across the United States to place calls,...

Intel splits into two hoping to become world’s second-largest chip manufacturer

Intel's CEO Pat Gelsinger announced a major reorganization, splitting the company into two independent entities under the Intel...

US supports Japans ambitions to return to leadership in chip manufacturing

Japan has embarked on a monumental $67 billion initiative to reclaim its stature as a global semiconductor titan,...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways