Tag Archives: Tender

Cryptocurrency bulls are lauding the decision by El Salvador to become the first country to accept bitcoin as legal tender. And one bitcoin fund manager believes other countries in emerging markets around the world could possibly follow suit. Michael Sonnenshein, CEO of Grayscale Investments, the world’s largest cryptocurrency fund manager by assets ($32 billion as of Sept. 3), spoke with Yahoo Finance Live and speculated where such countries could be located. “When we think about where… Source link

The Central American country plans to use bitcoin as a parallel legal tender alongside the US dollar, which has also been touted as a remittance currency for Salvadorans overseas. Photo: Jose Cabezas/Reuters The price of Bitcoin (BTC-USD) rose for a third consecutive day on Friday after El Salvador revealed that it would officiate the cryptocurrency as legal tender on 7 September. The Central American country plans to use bitcoin as a parallel legal tender alongside the US dollar, which has… Source link

(Bloomberg) — El Salvador’s Nayib Bukele, Latin America’s youngest president who’s known to break from the norms, said he plans to send legislation that would make Bitcoin legal tender in the country. “In the short term, this will generate jobs and help provide financial inclusion to thousands outside the formal economy,” Bukele said in a video broadcast at the Bitcoin 2021 conference in Miami. He said he would submit the legislature a bill next week. In a series of tweets, the… Source link