El Salvador is looking to become the first country to accept $Bitcoin as legal tender

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.

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