Bitcoin will continue to be the legal tender in El Salvador, and may accelerate its holdings in the future!
The country on the volcano, the birthplace of the Mayans (El Salvador), continues to embrace Bitcoin and regards it as the core of the country's strategic reserves. The director of the Bitcoin Office recently publicly stated that Bitcoin will continue to be the legal tender in El Salvador, and the country will continue to buy Bitcoin, and may even buy it at a faster rate to further strengthen its strategic reserves. This decision has once again attracted the attention of the international community to the bold Bitcoin strategy of this Central American country.
El Salvador took the lead in using Bitcoin as legal tender in 2021, becoming the first in the world. Despite the warnings of the International Monetary Fund and the volatility of Bitcoin prices, the Salvadoran government remains determined to advance its Bitcoin strategy. The move was originally intended to reduce the cost of cross-border remittances and provide financial services to people who cannot access traditional banking services. El Salvador sees Bitcoin as a hedge against inflation and the depreciation of the US dollar, and believes that Bitcoin will play an important role in the future global financial system. The latest statement of the director of the Bitcoin Office once again confirms the Salvadoran government's long-term optimism about Bitcoin. The continued purchase of Bitcoin and its use as a strategic reserve shows that El Salvador is actively building a digital economic ecosystem with Bitcoin at its core. $BTC