It's official: El Salvador is Marathi Archivesthe 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
How to Settle Down with Dystopia
An Interview with Shane Jones
The Real Thing
The Morning News Roundup for May 30, 2014
Trump tariff news: See the latest impacts on consumer tech
What We’re Loving: Pop Stars, Rock Stars, The Fault in Our Stars by The Paris Review
Out of Joint by Jonathan Wilson
Laid Bare by Rowan Ricardo Phillips
You won't see Elon Musk smoking weed in public again, NASA admin says
A Rookery of Pterodactyls
Exceptionally rare radio sources detected in the distant universe
Last Chance to Own a Piece of Paris Review History
The Sabbathday Lake Community and Early Shaker Spirituals
The Joys of Dancing
The State of 5G: When It's Coming, How Fast It Will Be & The Sci
A Horse Named Paris Review
Etchings from Rembrandt by Dan Piepenbring
The Morning News Roundup for June 11, 2014
Best Amazon Fire TV Cube deal: Save $30 at Amazon
Best gift card deal: Get a $100 DoorDash gift card for only $85 at Best Buy
Messenger is finally adding default endWinter by Marin SardyNYT's The Mini crossword answers for December 7Netflix's 'Leave the World Behind' takes a swipe at TeslaRedux: Summer Surprised Us by The Paris ReviewBest Logitech deals: Get Logitech devices up to 40% offWho is Oliver Anthony and what's the deal with 'Rich Men North of Richmond?'Redux: Disappointment Is Oily by The Paris Revieweharmony and GLAAD launch new features for LGBTQ usersThere Are No Small Fascisms: An Interview with Dasa DrndicOn The Importance of Not Writing by Mesha MarenBooks Only a Mother Could Love by The Paris ReviewFun Factory Anniversary Sale: Score 40% off sitewideA Space for Bette Howland by Honor MooreRedux: Disappointment Is Oily by The Paris ReviewBooks Only a Mother Could Love by The Paris ReviewThe Ideal Place to Disappear: An Interview with Julia Phillips by Jennifer WilsonPoetry Rx: Then the Letting Go by Claire SchwartzBest BLACK+DECKER deal: Get a vacuum for 27% offSomething Always Remains by Trevor Paglen J. K. Rowling sues former assistant for stealing Harry Potter' swag 'World of Warcraft Classic' is super slow, but that has its benefits This unimpressed mom understands your 'Pokémon Go' problems Facebook's Portal speaker is now for sale and it definitely won't spy on you Ivanka Trump's unpaid interns share cringeworthy financial advice Best fan theories on the finale of 'American Horror Story: Apocalypse' This website will send you free pizza while you're waiting in line to vote Presenter awkwardly explains what couple behind him are doing Soup bully won't stop sending anonymous food deliveries to confused neighbor This small electric car was designed by an e Beyoncé graces us with enchanting behind Here is the Donald Trump campaign's first TV ad Study says 'Harry Potter' fans less likely to vote Trump and J.K. Rowling loves it MoviePass, what are you doing? Waymo blames collision with motorcycle on human error, not AI How to download your personal data from Apple Nothing to see here, just some dogs enjoying an art exhibition Amazon's holiday toy catalog is an evil/genius way to make parents spend money Facebook admits it didn't do enough to prevent 'offline violence' in Myanmar Samsung shows off foldable phone concept with Infinity Flex Display
2.4149s , 8201.6875 kb
Copyright © 2025 Powered by 【Marathi Archives】,Evergreen Information Network