Bitcoin jumps after El Salvador passes law to adopt it as legal tender
The cryptocurrency jumped more than 13% to trade above $37,000 before settling lower at $36,435.96 at about 4:48 a.m. ET, according to CoinDesk data.
On Wednesday, lawmakers in the Central American country passed a law that made bitcoin legal tender. Among other things, it means prices can now be shown in bitcoin and tax contributions can be paid with the digital currency.to build the country's modern financial infrastructure using bitcoin technology.
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El Salvador Makes History As World’s First Country To Make Bitcoin Legal TenderI am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com
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