On September 7, in El Salvador, a law came into force that legalized bitcoin as a means of payment.
The presidentNayib Bukele marked the historic moment with a tweet.
The government has created a fund with a reserve of $150 million to facilitate currency conversion for businesses. The fund has already made two purchases of 200 BTC for $21 million.
The government has released a crypto wallet called Chivo, which means "cool" in Salvadoran slang, and will pay a 30 Bitcoin bonus to citizens who download it.
The Salvadorans themselves look at this step withconfusion and distrust, fearing that the instability of the digital currency could be dangerous for the economy and their own savings. Only about a third of Salvadorans use the Internet, and almost a quarter live below the poverty line. Hundreds of demonstrators marched through the city on Friday to voice their concerns about the legalization of cryptocurrency, especially if it will be used to pay pensions and social security instead of the US dollar in the future.
Subscribe to ForkNews on Telegram to keep abreast of news from the world of cryptocurrencies
Read this:
The citizens of El Salvador will be given $ 30 in BTC each. The government will also deploy a network of cryptomats
El Salvador's government will donate $ 30 in bitcoins to all citizens
Opinion: US government will ban corporations from investing in BTC
Bank of America considers El Salvador's Bitcoin strategy to be a winning one
The Russian government adopted a law on the declaration of cryptocurrencies
El Salvadorians take to the streets to protest bitcoin legalization