Economy

Backseat Driver

(4,381 posts) Tue Sep 7, 2021, 12:26 PM Sep 2021

El Salvador bought $21 million of bitcoin as it becomes first country to make it a legal currency

https://www.cnbc.com/2021/09/07/el-salvador-buys-400-bitcoin-ahead-of-law-making-it-legal-currency.html

KEY POINTS
El Salvador bought 400 bitcoin worth about $20.9 million, one day before it formally adopts the world’s most popular cryptocurrency as legal tender.

The announcement came as El Salvador’s bitcoin law, which was passed in June, took effect on Tuesday.

El Salvador has launched a wallet app called Chivo which citizens can sign up to with a national ID in order to transact using bitcoin.

Read more @ link.

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El Salvador bought $21 million of bitcoin as it becomes first country to make it a legal currency (Original Post) Backseat Driver Sep 2021 OP

A country that struggles to keep itself afloat and LuckyLib Sep 2021 #1

+1 peppertree Sep 2021 #2

LuckyLib

(6,817 posts)

1. A country that struggles to keep itself afloat and

Reply to Backseat Driver (Original post)

Tue Sep 7, 2021, 12:48 PM

Sep 2021

is outrageously corrupt gets in to bitcoin. Somebody there is grifting big time. My heart goes out to Salvadoreños.

peppertree

(21,604 posts)

2. +1

Reply to LuckyLib (Reply #1)

Wed Sep 8, 2021, 02:18 PM

Sep 2021

Bukele is clearly trying to turn El Salvador into a new Panama - i.e. a money laundry.

It won't be long before they'll start reporting Bitcoin kidnappings there, with Bitcoin holders forced to give up their booty at gunpoint.

Or with the gun pointed at their child, if past kidnappings in El Salvador are an indication.

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