July 23, 2024
As an example of a country that adopted a digital currency, El Salvador's Bitcoin adoption demonstrates what can go wrong.
As an example of a country that adopted a digital currency, El Salvador's Bitcoin adoption demonstrates what can go wrong.
Adopting bitcoin during September 2021, El Salvador's political leadership did not know all that could go wrong...and it did.
Trying to encourage bitcoin use, El Salvador had all the right incentives but still wound up with unintended consequences.
By adopting Bitcoin as legal tender, El Salvador will be the first nation to say that the cryptocurrency is a national currency.