El Salvador, a small country in Central America, has become known for making important political choices to facilitate the massive adoption of Bitcoin.
Summary
El Salvador, where Bitcoin is legal tender
Last year, the country famous for its beautiful beaches on the Pacific Ocean declared Bitcoin legal tender.Â
This means that businesses in the country are now forced to accept payments in BTC, if they have the technological means to do so.
Obviously, this important political move, as well as being praised by the great supporters of the queen of cryptocurrencies, gives us a clear signal that this extraordinary economic revolution can no longer be ignored even by big governments.
Bitcoin bonds
But El Salvador’s crusade doesn’t end here, as the country has announced that it will soon be working on issuing Bitcoin bonds.
More precisely, the Minister of Finance said that the Government will very soon send to Congress about 20 bills to initiate, define and give legal structure to this great legislative innovation.
The news was confirmed by the president himself, Nayib Bukele, via Twitter, the crypto community’s favourite social network, where news is delivered in real-time.
The Bitcoin CityÂ
The ultimate goal of this important political manoeuvre in El Salvador is to issue around $1 billion in bonds during this new calendar year, half of which will then be converted into BTC and the other half used for infrastructure and the mining of the currency itself.
It is therefore clear that the government is trying to create a true Bitcoin City, to house and benefit all the biggest supporters of the cryptocurrency.
