Bitcoin Dumps to 11-Day Low Beneath $20K as Global Markets Tumble (Market Watch)

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”El Salvador became the first government in Central America to accept bitcoin as legal tender in an effort to increase financial inclusion.”El Salvador’s decision to accept Bitcoin has been praised by many as a brave and innovative action that could open the way for other nations to follow suit.

 The president intends to introduce legislation that would eliminate all taxes on technological innovations as well as computing and communications hardware manufacturing etc.with plans to make bitcoin legal tender in 2021 and to build the world’s first “bitcoin city.This program is a part of the Bukele administration’s larger initiatives to modernize the nation’s economy and lessen its reliance on conventional sectors like industry and agriculture.

acknowledged in February 2023 that the threats associated with El Salvador’s adoption of Bitcoin “have not materialized.The president of El Salvador has announced that he would propose to the nation’s legislature the following week to abolish all taxes on technology.

making it simpler for its citizens to transfer money home from abroad and lessen reliance on the US dollar.

the Central American country’s legislature approved a measure opening the door for a bond backed by bitcoin.99 (save $65)Beats Solo3 $99.

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