It's official: El Salvador is Dear Utol (2025): Pa-Yummy si Ma'am Episode 37the first country in the world to accept Bitcoin as legal tender.
The country passed the necessary legislation back in June, and today it went into effect, with President Nayib Bukele calling the moment historical.
This Tweet is currently unavailable. It might be loading or has been removed.
In practice, the new legislation means Bitcoin is now equal to El Salvador's legal fiat currency, which is the U.S. dollar, and Salvadorans can legally use Bitcoin for cash payments. Furthermore, businesses operating in the country will have to start accepting payments in Bitcoin if they have the technology to do so.
Bukele also announced (via Twitter) that the country purchased a total of 400 bitcoins so far, worth $20.3 million at writing time.
This Tweet is currently unavailable. It might be loading or has been removed.
El Salvador's move to accept Bitcoin is notable for several reasons. Besides giving Bitcoin more legitimacy as a global currency, it could help Salvadorans who live abroad send remittances at lower cost (Bitcoin transfers typically cost several dollars, regardless of the amount transferred). On the other hand, Bitcoin's volatility could cause problems for users. Bitcoin's price has risen or fallen sharply on numerous occasions, often in a matter of hours.
SEE ALSO: PayPal now lets UK customers buy and sell BitcoinEl Salvador's move to buy bitcoins is also notable. As the country adds more bitcoins to its treasury, its fate gets increasingly tied to the price of Bitcoin which, again, is known to rise and fall tremendously over fairly short periods of time. The country is already feeling the effects of its decision, having been downgraded by ratings agency Moody's following the pass of the Bitcoin law.
The price of Bitcoin rose sharply over the last 48 hours, from roughly $50,600 to $52,900 per coin, but it has since fallen back to around $50,800.
Topics Bitcoin Cryptocurrency
Reality Distortion Field: 10 Things Apple Won't Directly Say But We'll Infer About the iPhone X
YouTube demonetizes Russell Brand's channel following allegations
Hans Op de Beeck, Night Time
Get $35 off the Cube GPS tracker at Best Buy
The 'recession indicator' meme, explained
Timothée Chalamet, Kylie Jenner, and the internet's fixation on PR relationships
How, and why, to create a Spotify blend playlist
Wordle today: Here's the answer and hints for September 19
5 Ways to Access a Locked Windows Account
Herman Melville, Master of the Literary Hoax
A Typical Wall Street Republican
Why one person hired the Island Boys on Cameo to quit their job for them
Bisexuality: 37 percent of Americans think it's a choice
“Mating” Book Club, Part 4: Socialism vs. Capitalism. Fight.
Elon Musk says SpaceX will launch the Falcon Heavy 'in a week or so'
How Gordon Lish Antipicated “The Jinx”
Trans Santa organizes gift donations to trans youth
Can a Novel’s Plot Be Reduced to Data Points?
Today's Hurdle hints and answers for April 1, 2025
Backlash ensues over the late Stan Lee's Twitter account hawking NFTs
GWM’s EV unit ORA launches a new vehicle in Brazil · TechNodeiMile Delivery enters Italy, becomes first Chinese delivery startup to enter Europe · TechNodeAlibaba Cloud adds Meta’s AI model Llama2 for use by local developers · TechNodeHuawei reveals HarmonyOS 4 with Live Window, similar to Apple's Dynamic Island · TechNodeSony PS5 Pro may opt for cheaper N4P chip amid TSMC production concerns · TechNodeTikTok in talks with Indonesia’s central bank for payments license · TechNodeWeChat beta tests XiaohongshuHuawei collaborates with China's JAC to build $140K luxury van: analyst · TechNodeChery becomes first automaker to use Huawei’s latest OS · TechNodeGWM’s EV unit ORA launches a new vehicle in Brazil · TechNodeHuawei collaborates with China's JAC to build $140K luxury van: analyst · TechNodeLuckin Coffee surpasses Starbucks in China with huge revenue growth · TechNodeTemu launches in South Korea · TechNodeDJI launches new drone Air 3 with dual cameras · TechNodeAlibaba DAMO Academy’s senior researcher, Shen Jiaxiang, resigns · TechNodeYum China sticks to 1,300 new stores target after 25% increase in quarterly revenue · TechNodeChina unveils detailed steps to stimulate private sector · TechNodeEvergrande New Energy Auto sees a total loss of $11.8 billion in 2021, 2022 · TechNodeBaidu to bring generative AI tools on future Great Wall and Geely vehicles · TechNodeFoxconn to invest $500 million in India for two new components factories · TechNode Luckin Coffee surpasses Starbucks in China with huge revenue growth · TechNode NASA explains how one camera completely melted during a SpaceX launch BYD wants to shelve its $1 billion investment in the Indian EV industry · TechNode Best travel deal: Southwest Airlines Wanna Get Away sale has flights for as low as $39 one way Chinese automaker GWM launches fuel Lizard's UV tongue helps to scare off predators, researchers discover National Park Service releases the climate report it tried to censor Wordle today: The answer and hints for April 7 India advises Tesla to copy Apple in pairing Chinese suppliers in India · TechNode Ethical non China asks tech giants to showcase startup investments · TechNode How to watch '3 Body Problem' (plus the Chinese adaptation) Wordle today: The answer and hints for April 8 Purdue vs. UConn basketball livestreams: How to watch live The first known manta ray nursery was discovered by accident Tencent’s Honor of Kings earns $766 million on App Store in the first half of 2023 · TechNode Huawei’s Pangu LLM improves European weather forecasting · TechNode Google adds new AI Tesla to cut prices in Hong Kong · TechNode Best free online courses from Stanford University
2.6229s , 10112.421875 kb
Copyright © 2025 Powered by 【Dear Utol (2025): Pa-Yummy si Ma'am Episode 37】,Pursuit Information Network