El Salvador's Bukele Celebrates Bitcoin Success as Value Soars
TL;DR Summary
El Salvador's President Nayib Bukele celebrated as Bitcoin's value surpassed $100,000, significantly boosting the country's investment to over $600 million. Despite initial resistance and protests against making Bitcoin legal tender in 2021, Bukele argued that the cryptocurrency would benefit the unbanked and reduce remittance costs. However, many Salvadorans quickly cashed out the $30 Bitcoin incentive provided by the government.
Topics:business#bitcoin#cryptocurrency#cryptocurrency-investment#el-salvador#legal-tender#nayib-bukele
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