zerohedge.com 06 Jun, 2021 19:45 am

"Shot Heard Around The World" - El Salvador President Pushes Bill To Adopt Bitcoin As Legal Tender

"Shot Heard Around The World" - El Salvador President Pushes Bill To Adopt Bitcoin As Legal Tender
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Bukele said Saturday he will send a bill to the Central American country's Congress next week to make bitcoin legal tender." Caitlin Long of Avanti Bank & Trust in Wyoming called it a "historic day in Bitcoin" but also predicted a "knockdown fight" to get approval because recognizing Bitcoin as legal tender would likely give it the same status as foreign currencies by banks, a level of legitimacy for the top cryptocurrency that many do not want to see granted."El Salvador adopting bitcoin as legal tender in order to escape the tyranny of central banks to rescue their people is what this is all about.#ElSalvador adopting #Bitcoin as legal tender in order to escape the tyranny of central banks to rescue their people is what this is all about.

— Nayib Bukele 🇸🇻 (@nayibbukele) June 6, 2021 If the legislation is passed by lawmakers (Bukele does have a majority of votes in El Salvador's congress), El Salvador would become the first country to formally adopt the digital currency.— Nayib Bukele 🇸🇻 (@nayibbukele) June 6, 2021 Bitcoin advocates see the move as both an important precedent for developing nations and a breakthrough for cryptocurrency, which many countries have fought.

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