President Nayib Bukele has announced that he will be introducing a bill to make El Salvador the first sovereign state to accept bitcoin as a legal tender.
Bukele will reportedly submit a bill next week, which will still have to be passed by the country's legislative assembly.
Strike's founder and CEO Jack Mallers said:"What's transformative here is that bitcoin is both the greatest reserve asset ever created and a superior monetary network. Holding bitcoin provides a way to protect developing economies from potential shocks of fiat currency inflation."
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