El Salvador’s Bitcoin Law came into force on 7th September. The landmark law makes the Central American nation the first country to recognise Bitcoin (BTC) as legal tender. However, the first day of El Salvador’s Bitcoin experiment was somewhat marred by server capacity errors suffered by the state-issued Chivo wallet. As previously reported by Cointelegraph, El Salvador has purchased 200 BTC, taking its Bitcoin holdings to 400 “coins”. The country’s parliament also recently approved a $150-million Bitcoin fund to facilitate conversions from BTC to United States dollars. More bulk Bitcoin purchases are expected, with the president indicating intentions to ramp up the country’s BTC acquisition.
CH-019193 (Webpage Portal) 2021-09-07 (Published) 2021-09-09 (Updated)