El Salvador adopts Bitcoin as legal tender prompting excitement, skepticism

Salvadorans woke on Thursday and reacted with both excitement and skepticism as their country became the first in the world to adopt Bitcoin as legal tender.

The Salvadoran Congress approved President Nayib Bukele’s proposal on Wednesday to embrace the cryptocurrency – a move that delighted the currency’s supporters.

With 62 out of 84 possible votes, lawmakers voted in favour of the move to create a law to adopt Bitcoin, despite concerns about the potential impact on El Salvador’s dealings with the International Monetary Fund (IMF).

Bukele has touted the use of Bitcoin for its potential to help Salvadorans living abroad to send remittances back home, while saying the U.S. dollar will also continue as legal tender. In practice, El Salvador does not have its own currency.

For more info, please go to https://globalnews.ca/news/7933582/el-salvador-bitcoin/

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38 Comments

  1. Canada is not a racist Country.

    The Liberals, The NDP, MSM Outlets like CBC,Global and CTV with their parent Companies like Rogers, Bell etc. These are the ones who have pushed racism in Canada for the past 6 years.

    all so they can gain big government and control, And anyone who opposes them is branded as racists.

    Also if Canada and US were so Racists as the Liberal Left Claims we are, Why do Canada and the US allow immigrants at a high rate? No racist Country would do this.

  2. ……and the ms13 has officially taken over El Salvador.Anyone know about the dark web??!?
    This is absolutely hilarious

  3. Once you understand Bitcoin and I mean research what hard money is then you will understand why Bitcoin is the hardest money out there. I think what El Salvador has done is the best thing for it’s people. El Salvador will go down in history for being the first to adopt Bitcoin and you’ll see alot of countries following suit this year.

    • Thats pretty much what I said in my comment, El Salvador is definitely going in the right direction congrats to them and their people!

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  4. I can understand the Salvadorian people not understanding Bitcoin but res assure, your country made the right move and more countries will begin to follow suit. Congrats to El Salvador and its people 🙏

  5. As usual people out of ignorance are making all sorts of off the cuff remarks about the validity of Bitcoin which usually means they have done little to no research. But hey, thats how most of you drones operate these days anyway.

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  7. Old folks will always fight the change to the world they know, they don’t have the mental capacity to relearn a new market nor understand it probably

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