El Salvador President Nayib Bukele plans to make Bitcoin the legal currency in his country.

Jakarta, TechnoBusiness Crypto ID – The government of El Salvador plans to make Bitcoin (BTC), the world’s first and most popular cryptocurrency, the legal currency in its country.

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This was stated directly by the President of El Salvador Nayib Bukele in “The Bitcoin Conference” which was held in Miami, Florida, United States, on Sunday (6/6).

President Bulele also expressed that view through his Twitter account. β€œ#Bitcoin has a market cap of $680 billion. If 1% of it is invested in El Salvador, that would increase our GDP by 25%,” he tweeted.

Then, he continued, β€œOn the other hand, #Bitcoin will have 10 million potential new users and the fastest growing way to transfer 6 billion dollars a year in remittances.”

President Bukele believes Bitcoin will be the answer to the 70% of El Salvador’s population who currently have no bank accounts and work informally.

“We hope this decision will be the start of providing a space where some of the leading innovators can reimagine the future of finance, which has the potential to help billions of people around the world.”

If the plan is actually implemented, perhaps El Salvador will be the first country to recognize Bitcoin as a legal currency. In contrast to other countries that choose to digitize their currency.


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