El Salvador: A Small Step in BTC

By  //  May 11, 2022

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In 2021, we first heard about this small country in South America claiming that it would become the first nation to make Bitcoin a legal tender. We heard Jack Maller, the young and dynamic CEO of a company calling the BTC lovers to celebrate this news. The same man was seen speaking at the recently held Miami conference about this critical topic.

He came up with his hoodie and basketball cap and then explained how he just came from the same place, enjoying its beauty and the acceptance of Bitcoin. Perhaps it was known for its high crime rates and corruption among the officials. These together go higher. However, the country’s GDP is 20 percent which carries money from the people and the nations like the US, which makes it a perfect place to enjoy the presence of Bitcoin on dogecoin millionaire.

The President’s Call

The president of this place is still young and dynamic. He is known as Nayib Bukele, who is just 39 years old, and he talks about the launch of the coin, taking the experiment to the next level. The speaker Maller was seen talking about the president wherein he recorded a small clip of Mr. Bukele when he announced the historic decision to make the coin a legal tender in his country.

As he heard the president announcing the same, he just jumped up in the crowd to applaud and cheer the presence of this news and video.

Then, we saw Maller bursting into tears as he recalled this incident and shared the experience at the Bitcoin Conference. He was right in sharing the experience. He claimed that anyone has the choice of announcing it the best; however, he would soon see many more nations like El Salvador also accepting the entire story.

The Reception

The country celebrated the decision as the president announced it in 2021. He shared some incredible stories for every BTC enthusiast about the room that came around the world. However, this came as a big surprise when people from the country accepted the decision and enjoyed celebrating the same.

We saw the president announcing many more things. The president had the opportunity of adding joy to the people, and they wanted to make it a country with BTC as its legal tender. Earlier, the political party of the said president came up as a big winner where they made the victory gaining superpower and majority to make the government.

The Supreme Court of the country also supported the decision of the president. They found something new and innovative to fight against the menace of Covid times to make their country free from misery.

The government managed to launch an extensive campaign for the country and its venture in crypto. It did not surprise anyone within the nation as everyone seemed prepared for it, and they all knew that they could bring the change with Bitcoin. Members of his party came to support him in a big way that helped them develop this new law.

This new law proved something exciting for everyone as it decided to bring in many more things surrounding the Digital media. We can find too many bills also coming in its favor, and Twitter ranked too many trends supporting the country to enjoy the advent of Bitcoin in their economic system.

The road ahead

The decision to make the coin legal in the country was not random, and it did come with the best options for others to invest and earn huge money. One of the mighty projects of the country surrounding digital money is Bitcoin City. A township is coming into the country’s small town to make it a hub for Bitcoin investment.

They will have a city center, mall, and many more things to attract BTC lovers worldwide. The coin will have its mining using the natural heat developed from the volcano found in the region. The mining process will become inexpensive since it will consume renewable power. The use of geothermal power as found in the volcanoes in the country is a good idea. The country is seen as a small step toward BTC, and it is going to become the hub for digital money.