2023-09-09 10:33:02
Perhaps many people didn’t even realize what a significant date yesterday was in the crypto world. On September 7, 2021, two years ago, El Salvador finally entered the cryptocurrency world’s hall of fame when it announced that Bitcoin would become the country’s official currency alongside the US dollar. The historic step was announced by President Nayib Bukele and clearly promised to completely transform the country’s financial sector. Enthusiasm for Bitcoin continues in El Salvador So far, the signs show that despite the criticisms and minor problems, bitcoin has gained a good foothold. Restaurants, shops and even hotels accept BTC – we’re talking hundreds of places across the country. Bukele’s vision was clear enough for El Salvador. By harnessing the power of Bitcoin, increase the involvement of unbanked people, attract investments and reduce the costs of sending money home, which is so important in the country. Many people attacked the Bitcoin law when it was announced, and some negative voices even said that the country would go bankrupt. This has not happened, nor has the law been repealed by the end of 2021. Now here we are at the end of 2023, slowly and with additional initiatives in the country, the spread and use of Bitcoin is being supported. For example, there were such measures this year: – Abolition of tax burdens on technological developments – Issuance of licenses for crypto exchanges – Introduction of Bitcoin education in primary schools – Opening of Bitcoin embassies – Launch of developer training at universities So President Bukele still stands by his decision. And if we only look at the publicity his country received, how many tourists and businessmen came here because of it, we can say that he did not make a bad decision. The question now is more regarding whether other countries will follow El Salvador’s example. Because it is not good to be a single pioneer for a long time.
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