El Salvador Recognizes Bitcoin as a Means of Payment
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Today, September 7, a law recognizing Bitcoin as legal tender has come into force in El Salvador. The country's president, Nayib Bukele, posted a tweet about it three minutes before midnight local time:

"In 3 minutes, we make history."

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The president of El Salvador has also announced the purchase of 400 Bitcoins by the country's authorities. The first transaction (200 Bitcoins) took place yesterday, September 6. The purchase became part of a new $150 million fund approved by the country's authorities aimed at guaranteeing the exchange between Bitcoins and dollars.

At the moment, the total amount of cryptocurrencies purchased amounts to around $21 million. Bukele has indicated brokers will buy even more bitcoins in the near future.

As of midnight on September 7, the cryptocurrency wallet Chivo is available for download. The president eliminated transfer and conversion fees at the end of June and announced both the ability to withdraw cash at Bitcoin ATMs or offline branches and the distribution of $30 in Bitcoin to every adult citizen of the country who downloads the wallet.

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