After 62 out of 84 votes in favor, Bitcoin has been declared legal money in El Salvador.
El Salvador, a small country, has moved on with its plans and kept its word to embrace Bitcoin as legal cash.
- El Salvador’s president, Nayib Bukele, took to Twitter to announce that the law establishing Bitcoin as legal cash in the country has been enacted by a supermajority vote.
- A total of 62 of the 84 votes cast were in favor.
A supermajority in the Salvadoran Congress has ratified the #BitcoinLaw.
62 out of 84 people voted!
#Btc #Btc #Btc #Btc #Btc #
- June 9, 2021 Nayib Bukele sv (@nayibbukele)
- For those who are curious, bitcoin’s acceptance as legal money means that no one has the authority to deny payment in BTC.
- Despite the fact that BTC is accepted by numerous providers in many countries, El Salvador is the first country to do so on a nationwide basis.
- The move further legitimizes bitcoin as a currency, and many experts feel it sets a precedent for others to follow.