Today is the day that Bitcoin becomes legal tender in El Salvador. This is huge news that has the world spinning in different ways than it normally does. Governments everywhere should take account and watch the growth that Bitcoin promises.
But as for now, there is a huge trend that you can get involved in if you want to show your solidarity with El Salvador. It started when Salvadorian president Nayib Bukele promised to give all Salvadorian citizens a bit of Bitcoin to get things rolling. $30 each, to be precise.
Following that gesture, the world has decided to give El Salvador a nod with their own $30 Bitcoin purchase. When the Bank of America released the Global Research report, “Opportunities: remittances, financial digitalization, business with US firms,” it gave president Bukele the confidence he needed that the decision El Salvador made was a great one.
To briefly cover what was in that report, BoA reported that transactions with Bitcoin save on remittance fees. Not only will Bitcoin reduce transaction costs, but it also provides a solid financial solution for most of the citizens of El Salvador who don’t have a bank account. The report goes on to point out more benefits and the list is quite impressive.
It’s a wonder more governments throughout the world haven’t adopted Bitcoin as legal tender themselves. As the economy in El Salvador starts to turn for the better, other governments might take notice and make those fortunate changes as well. But for now, it’s all in the hands of the Salvadorian citizens and we’re about to see some amazing things.
Don’t forget to show El Salvador your support. It’s only $30 and the purchase will benefit you as well. Bitcoin is on a steady rise as we have been consistently reporting and that’s an investment that you just can’t afford to miss.
To show solidarity with El Salvador…