The 2021 Bitcoin conference in Miami was the most attended Bitcoin conference ever. Significant decisions have been made and evaluations have been made regarding Bitcoin and other cryptocurrencies. On the last day of the conference, the President of El Salvador, Nayib Bukele, announced that he would present a proposal to the parliament to make Bitcoin a legal currency in his country, and it suddenly took the first place in the economy agenda.
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El Salvador's President Nayib Bukele will present his proposal to the parliament next week to make Bitcoin a legal currency in El Salvador. If the parliament accepts this proposal, El Salvador will have made a first in the economic field with Bitcoin. This statement was received positively by many in a cryptocurrency market.
This statement was received positively by many in a cryptocurrency market. Many people, especially Binance CEO Changpeng Zhao, shared support statements regarding this statement. Changpeng Zhao shared the tweet 'El Salvador is beautiful!' on his official twitter account.
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El Salvador's President Nayib Bukele changed and shared his profile picture on his official twitter account. Also, Binance CEO Changpeng Zhao retweeted this post.
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El Salvador's President Nayib Bukele will present the proposal to the parliament next week and the proposal is expected to be accepted by the parliament. Considering the high volatility in Bitcoin, they may face many difficulties in the economic field. But on the cryptocurrency side, I think they will get very serious support from cryptocurrency experts around the world as El Salvador will be a first.Especially considering the support that may come from the world's largest crypto exchanges and investors, El Salvador can do a great job.
I don't think it will have much of an impact on the markets in the short term. But if this development succeeds, I think it will have an important contribution to encourage other countries. Since they will be the first in this field, many experts will support in overcoming the problems.
In addition, more than half of the people living in El Salvador do not have a bank account and cannot transfer money to each other. At this point, I think it will be very useful. I believe the people of El Salvador will embrace cryptocurrencies.
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