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El Salvador has become the first country in the world to accept Bitcoin as legal tender. Starting on September 7th, also known as Bitcoin Day, El Salvador started officially accepting Bitcoin as legal tender. This is good news overall for the crypto space as more countries are likely to follow in El Salvadors footsteps especially countries that have unstable economies that are being hit with inflation.
Even though this was great news for Bitcoin and crypto as a whole we saw it cause the price to dump after this this is most likely due to regulations governments are trying to impose on cryptocurrencies including the SEC threatening to sue Coinbase. As the adoption for cryptocurrencies grows so will the price and the people who use them.
