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.