Bitcoin, the most valuable cryptocurrency in the world, recently received the support of Nayib Bukele, president of El Salvador, after announcing plans to make Bitcoin legal tender in the Central American country.
In an official announcement released last Saturday, the 39-year-old president stressed the importance of Bitcoin for El Salvador's economic growth. Bukele said he is planning to send a bill to Congress next week in an effort to adopt BTC as legal tender.
“Bitcoin has a market capitalization of $ 680 billion. If 1% of it were invested in El Salvador, our GDP would increase by 25%. On the other hand, Bitcoin will have 10 million potential new users and the fastest growing way to transfer $ 6 billion annually in remittances. Furthermore, a large chunk of that $ 6 billion is lost to intermediaries. Using BTC, the amount received by over one million low-income families will increase by the equivalent of billions of dollars each year. This will improve the lives and futures of millions of people, ”Bukele said on Twitter.
The latest announcement from the President of El Salvador came just days after Miami Mayor Francos Suarez revealed his holdings in Bitcoin and Ethereum.
Adoption of Bitcoin
Since the beginning of 2021, Bitcoin adoption has increased rapidly. Major organizations around the world have started accepting Bitcoin as a payment method and have added BTC to their balance sheets. Chinese tech firm, Meitu, recently announced that the company owns more than $ 100 million worth of cryptocurrency assets including BTC and Ethereum.
MicroStrategy, a leading business intelligence firm, now has more than 92.000 BTC. Despite corporate adoption, analysts have raised concerns about Bitcoin's legal status in the past. However, the latest announcement from El Salvador shows that countries have begun to consider adopting BTC as a legal form of money. The largest cryptocurrency in the world is currently trading above $ 36.000 with a market capitalization of over $ 682 billion.
How to trade bitcoin
At the moment, everyone can start trading bitcoins, even without owning large capital. Thanks to automatic trading platforms such as Bitcoin Pro, it is possible to start trading BTC and other popular cryptocurrencies, in a very simple way.
The beauty of all of this is that only an investment of € 250 is required to get started and you don't need to add anything else. Indeed, this is not even the cost of the platform, as it happens elsewhere. This money, which represents your investment capital, will be used to carry out trading operations.
Therefore, everything the trader earns is 100% his. This is an excellent solution for those who want to enter this world, but do not have large capital. Obviously, we always recommend that you be very careful, as trading is risky and therefore, you should always invest money that you can afford to lose.
