Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Bitcoin (BTC)
  • News

El Salvador’s President Announces Plan to Declare Bitcoin (BTC) A Legal Tender

Tobi Loba June 6, 2021 2 min read
El Salvador’s President Announces Plan to Declare Bitcoin (BTC) A Legal Tender

El Salvador’s president, Nayib Bukele, has announced on 5th June that he planned to submit a legislative approval that would grant Bitcoin (BTC), the largest cryptocurrency by market cap, the status of a legal tender in his country if passed into law.

The President made this notable announcement during the Bitcoin 2021 conference in Miami, Florida.


trade now

Read Also: Government of India Is Reconsidering Its Blanket Ban on Cryptocurrency

Nayib Bukele noted:

“We hope that this decision will be just the beginning in providing a space where some of the leading innovators can reimagine the future of finance, potentially helping billions around the world.”

After the announcement, Bukele’s profile picture was changed to feature the laser eyes memes, commonly used by Bitcoin proponents, indicating that he’s officially and fully in support of the flagship cryptocurrency.

As a report has it, the El Salvadorian government is working with a Bitcoin startup, Strike, on the initiative.

Read Also: BTC, ETH, LTC, BCH Holders Will Soon Be Able To Transfer Coins from and To PayPal Addresses

Over the new development, the founder and CEO of Strike, Jack Mallers, said:

“This is the shot heard ’round the world for Bitcoin. What’s transformative here is that bitcoin is both the greatest reserve asset ever created and a superior monetary network. Holding bitcoin provides a way to protect developing economies from potential shocks of fiat currency inflation.”

Why it’s Unlikely for Bukele’s Proposal to Fail

With the look of things, it’s unlikely for Bukele’s proposal to fail, considering the fact that his political party, New Ideas, controls El Salvador’s unicameral legislature following an election earlier this year.

Read Also: United States’ Federally Chartered Banks Have Been Granted Approval to Crypto Custody

Expectedly, it has been a euphoric moment in the Bitcoin community since the plan was brought to the notice of the public. Many see the move as the beginning of a new era for the popular digital currency.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Crypto Michael Analyzes Next Possible Price Target for Cardano (ADA), Ethereum (ETH), Algorand (ALGO)
Next: Cardano (ADA) Is Unique because it’s built with Interoperability in Mind –Professor Kiayias

Related Stories

Evaluating the Possibilities of Tron (TRX) Unleashing Its Volatility
2 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • Price Analysis
  • Tron (TRX)

Evaluating the Possibilities of Tron (TRX) Unleashing Its Volatility

August 14, 2022
What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
Bitcoin (BTC): What to Expect in Upcoming Months Following Present Developments
3 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • Price Analysis

Bitcoin (BTC): What to Expect in Upcoming Months Following Present Developments

August 13, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,542.00
0.01%
ethereum
Ethereum (ETH)
$1,984.30
-0.21%
tether
Tether (USDT)
$1.00
-0.03%
usd-coin
USD Coin (USDC)
$1.00
-0.10%
binancecoin
BNB (BNB)
$323.59
-1.67%
cardano
Cardano (ADA)
$0.58
2.29%
ripple
XRP (XRP)
$0.383170
0.20%
Binance USD
Binance USD (BUSD)
$1.00
0.00%
polkadot
Polkadot (DOT)
$9.17
-3.54%
dogecoin
Dogecoin (DOGE)
$0.078166
6.17%

Recent Posts

  • Evaluating the Possibilities of Tron (TRX) Unleashing Its Volatility
  • What is a Bear Trap in Trading and How Does It Work?
  • FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
  • Bitcoin (BTC): What to Expect in Upcoming Months Following Present Developments
  • All You Need To Know About Virtual Asset Service Provider (VASP)
  • Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
  • Nvidia Launches New Developer Tools To Up Its Metaverse Bet
  • Velocity Trade Review – Is Velocity Trade Scam or a Proper Broker?
  • Assessing Reasons Behind Polygon’s (MATIC) Recent Price Uptick
  • Blockchain vs. Database: How Do They Differ?
  • Paper Wallets: How To Secure Your Crypto Assets
  • New Report Says Nigeria Has Become the Most Crypto-obsessed Country
  • Institutional Demand for BTC Is Insatiable, Says Kevin O’Leary
  • Money-Laundering And Wash Trading In NFTs – All You Need To Know
  • Alfabtc Review – Is Alfabtc Scam or a Proper Broker?

Categories

You may have missed

Evaluating the Possibilities of Tron (TRX) Unleashing Its Volatility
2 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • Price Analysis
  • Tron (TRX)

Evaluating the Possibilities of Tron (TRX) Unleashing Its Volatility

August 14, 2022
What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
4 min read
  • Cryptocurrency Brokers News and Reviews

FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?

August 13, 2022
Bitcoin (BTC): What to Expect in Upcoming Months Following Present Developments
3 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • Price Analysis

Bitcoin (BTC): What to Expect in Upcoming Months Following Present Developments

August 13, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%