Bitcoin crashes as El Salvador adopts Cryptocurrency as Legal Tender

SEP 08, 2021

Bitcoin crashed to its lowest value in nearly a month Tuesday as El Salvador officially rolled out the cryptocurrency as legal tender. For months critics have warned the adoption of Bitcoin as an official currency in El Salvador could trigger an economic catastrophe — particularly impacting poorer communities that don’t have access to bank accounts, computers or smartphones. The controversial move, spearheaded by President Nayib Bukele and approved by lawmakers earlier this year, has led to ongoing protests.

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