CNBC, an economic media outlet, reported on the 25th (local time) that El Salvador, the first country in Latin America to adopt Bitcoin as the world’s first legal currency, is offering $30 worth of cryptocurrency (virtual currency) when residents open a Bitcoin wallet. time) reported.
At a press conference on the same day, President Nayb Bukele announced that the El Salvador government will provide $30 worth of bitcoins for free to residents who have downloaded a bitcoin wallet called ‘Chibo’.
He also added that from September 7th, Bitcoin will be officially accepted.
Earlier on the 9th, El Salvador’s parliament passed a bill recognizing Bitcoin as a fiat currency.
“After a period of preparation, Bitcoin will begin to be used as a fiat currency from September 7,” Bukele said.
“Using Bitcoin is optional, and if you don’t want to, just use cash, that is, dollars,” he added. El Salvador uses the US dollar as its official currency.
The main reason President Bukele adopted Bitcoin as an official currency was to allow overseas senders to send money to Korea without worrying about fees and inflation (inflation).
According to the World Bank, foreign workers in El Salvador remitted about $6 billion (6.771 trillion) to their home country in 2019. This is equivalent to about one-fifth of El Salvador’s gross domestic product (GDP).
