Why did El Salvador adopt Bitcoin as Legal Tender?
If I ask you to count the number of countries you know off the top of your head, what will your answer be? 10? 20? 30?
Mine is 43. I mean it was. Now it’s 44.
Yes. Now, I know El Salvador.
I mean no disrespect to our sweet Salvadorans but our human minds are prone to remembering big countries thanks to the preference of global media companies while putting out news.
Talking of big countries, El Salvador has recently made a big bang in this world full of big names like the US, UK, Russia and China.
But, what did El Salvador do to make such an impact?
It became the first country to adopt Bitcoin as legal tender!
Yes, it’s true!
After 13 years of its existence, Bitcoin has finally received national acceptance.
On September 8, 2021, El Salvador became the first country in the world to adopt Bitcoin as national currency.
How it started
It all started from the Bitcoin 2021 Conference held in Miami between June 4–5, 2021.
This event has been tagged as the biggest Bitcoin event in the entire history of crypto with a sold-out crowd of 12,000 attendees and thousands more.
