Nayib Bukele, president of El Salvador, announced at a Bitcoin conference in Miami, FL that “Next week I will send to congress a bill that will make bitcoin a legal tender”.
This would be a big news for the future of crypto currencies.
Currently, El Salvador uses the US Dollar as its main currency and 70% of Salvadorians do not have a bank account. A cryptocurrency system like this could allow for a more central system of currency.
The value of Bitcoin has risen approximately $1,000 USD since this announcement.
