Bitcoin is now an official means of payment in El Salvador. This was announced by President Naib Bukele in a post on Twitter. According to the 39-year-old leader, the measure will increase employment and make more people turn to banks.
Bukele, who is the youngest president in Latin America and is known for his rebellious views, said the decision was approved by parliamentarians with a "supermajority," according to Bloomberg.
The president has said in the past that bitcoin could boost the country's economy, help increase weak bank penetration, and speed up the transfer of annual remittances by 6 billion euros.
The decision to declare virtual currency an official means of payment is rarely good news for the cryptocurrency sector in recent weeks, which has not recovered from its troubles since May.
Bitcoin rose 2.7% to $ 34,159.20, after its price fell below $ 32,000 on Tuesday. However, the other leading cryptocurrencies are still in the red.
What do you think about the adoption of the currency by the Latin American president?
By GeorgiTermi
You may also like: The Introduction Of Digital National Currencies Could Raise Interest Rates
