El Salvador's 'Bitcoin law' now official, and even McDonald's accepts it as legal tender - SoyaCincau

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El Salvador's move to make Bitcoin legal tender hasn't gone smoothly though, as the cryptocurrency's value began nosediving on Tuesday.

the moment it became legal tender in the country, going from USD52,000 per 1 BTC to just over USD43,000, before recovering to USD46,292 at time of writing.El Salvador’s ‘Bitcoin Law’ is the result of Nayib Bukele, their 40-year-old president who leads the populist Nuevas Ideas party. According to Bukele, the move would not only generate jobs and provide financial inclusion to thousands of Salvadorans, but also help make it easier for those living abroad to send money back home.

There’s also plans to give every Salvadoran USD30 in BTC via an app called the Chivo Wallet, but that app was following its launch on Tuesday. President Bukele even had to tweet out an apology of sorts, promising to improve the user experience and calling for feedback, while also announcing a temporary suspension of Chivo Wallet while authorities work on fixes., mejorar la experiencia de usuario y los problemas que dio durante el día.Esperamos que mañana sea mucho mejor.

 

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