El Salvador’s President Nayib Bukele said he plans to introduce a bill that would make bitcoin legal tender in the country.
As part of this initiative, the government of El Salvador is working with cryptocurrency startup Strike. On his Twitter account, Bukele changed his image from normal to laser-eyed, a meme often used by bitcoin supporters. President of El Salvador stated:
“We hope that such a solution will be just the beginning in creating a new space within which innovative minds will shape the future of finance, and could potentially help billions of people. This call will be heard throughout the cryptocurrency world. Bitcoin is not only the best reserve asset, but also a great money network. Bitcoin holdings can help developing countries hedge against currency inflation risks. ”
Formerly well-known bitcoin enthusiast Mike Novogratz stated that bitcoin is poorly suited for payments, but great as an asset for investment and savings.
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