El Salvador President Nayib Bukele Plans to Announce Bitcoin Legal Tender Next Week

At the Bitcoin 2021 conference in Miami, Nayib Bukele, president of El Salvador, appeared via a Zoom presentation and noted that he plans to introduce a bill recognizing bitcoin as legal tender next week. Bukele has revealed a partnership with Strike, a bitcoin payments company started by Jack Mallers. Progressive President Nayib Bukele Says Bitcoin Will Be Legal Tender in El Salvador El Salvador will become the first country to accept Bitcoin (BTC) as legal tender, as the country's president, Nayib Bukele, announced at the Bitcoin 2021 conference, El Salvador's support for BTC targeting Miami. Bukele announced that the country has entered into a relationship with Strike, a Lightning Network payment company founded by Jack Mallers. Mallers announced at the conference that it would fall as "the world-wide shot for bitcoin." Mallers added: β€œThe transformative thing here is that bitcoin is both the largest reserve asset ever created and a premier money network. Holding bitcoin provides a way to protect emerging economies from potential shocks from fiat inflation. β€œNext week, I will submit a bill to Congress that will make bitcoin legal tender in El Salvador. In the short term, this will create jobs and help ensure financial inclusion.” El Salvador became the first country to put #Bitcoin on legal tender! πŸ‡ΈπŸ‡» πŸš€@JackMallers pic.twitter.com/BnbLl6IZdH β€” Root πŸ₯•πŸŸ© (@therationalroot) Conference attendees raged with excitement after the president of El Salvador announced on June 5, 2021 that he would present the bill. The news, of course, went viral on crypto forums and started trending on social media as well. Nayib Bukele has been known for being forward-thinking since taking office in 2019 and has spoken about bitcoin before. β€œOne small step for Bitcoin. A giant step for humanity. Thank you Jack Mallers, you wrote [date] today,” one tweeted. What do you think of the president?

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