El Salvador makes Bitcoin its official currency


What's the news?

El Salvador becomes the first country to adopt bitcoin as legal tender Tuesday. All enthusiastic supporters and detractors as well will be watching if a large number of people are willing to transact with bitcoins.


More to know

President Nayib Bukele's government claims the move will give many Salvadorans access to bank services for the first time and save some $400 Mn in fees on remittances sent home from abroad every year.He started the ball rolling Monday evening by announcing El Salvador had bought its first 400 bitcoins, in two tranches of 200, and promised more were coming.

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