El Salvador has opened the Doors by arunava

hive-175254 · @arunava · Jun 6 '21

$1.38

El Salvador has opened the Doors

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[Source](https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Fi.birborsa.com%2Fstorage%2Ffiles%2Fimages%2F2021%2F05%2F30%2Fbtcuzay-qpC8_cover.jpg&f=1&nofb=1)
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# So what Doors are we talking about?

We are talking about the doors that lead towards Bitcoin being a Legal Tender in a Country. Nayib Bukele who is the president of El Salvador opened up on Twitter about his views about Bitcoin and how he is looking to send a Bill to Congress to make Bitcoin a Legal Tender in El Salvador. Now, the reason why this is such big news when we have a lot of countries where you can buy stuff with Bitcoin or other Cryptocurrencies is that in almost all of those Countries the Government has never outright called Bitcoin a Legal Tender.

Declaring Bitcoin as Legal Tender is a huge thing and that is why most Countries use the term Digital Assets to categorize Crypto into a Commodity and not a Currency. Now if this Bill passes the Congress and I really hope it does then there would be quite the mayhem as a lot more Countries will lookout to incorporate Bitcoin into their Financials. Plus if for example, a person comes to visit India from El Salvador Bitcoin in his/her possession will be treated as Foreign Currency as Bitcoin will be legal in their Country.

# You See what I am Talking About?

But there is also a sad part about this which is that Global Superpowers like the USA, CHINA, and some others will pressurize Nayib Bukele to drop this Bill. I don't know the relations between those countries but I am pretty sure those Countries will definitely pressurize El Salvador a lot. But I am really hopeful that Nayib Bukele will remain strong and just HODL, in this case, HODL the BILL.



![image.png](https://files.peakd.com/file/peakd-hive/arunava/EqLAiHE2YJYAfyR554RMj7xtxwFr6RGwDKNaYaukxycMKMVTbX48o74eEnTSUHFz3yt.png)

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