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El Salvador To Declare Bitcoin As Legal Tender

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El Salvador To Declare Bitcoin As Legal Tender

In a recorded announcement played today at the Bitcoin 2021 conference, the president of El Salvador, Nayib Bukele, announced that the country’s government would declare bitcoin as legal tender.

“Next week I will send to congress a bill that will make bitcoin a legal tender,” he said.

The presentation was hosted by Jack Mallers, founder of Lightning Network payments platform Strike, who has been working with Bukele to determine the logistics of this historic move.

“Over 70% of the active population of El Salvador doesn’t have a bank account. They’re not in the financial system,” Mallers said. “They asked me to help write a plan and that they viewed bitcoin as a world-class currency and that we needed to put together a Bitcoin plan to help these people.”

First published here

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