Bitcoin (BTC) logged its best daily performance on Wednesday since Feb. 8, the day Tesla announced that it had added $1.5 billion worth of BTC to its balance sheet. The flagship cryptocurrency surged 11.98% to $37,573 after El Salvador President Nayib Bukele passed legislation that approved it as a legal tender. In short, the Central American nation will now be able to price goods and services in BTC and will even accept the cryptocurrency for tax payments. Meanwhile, Bukele clarified that his government would not impose capital gains tax on Bitcoin investors. He also announced that El Salvador would use …

As is par for the course for Bitcoin (BTC), El Salvador becoming the first nation-state to adopt the cryptocurrency as legal tender is now immortalized on the blockchain. Data from blockchain explorer service Blockchair shows block 686,938 bearing the message “asamblea aprueba la ley bitcoin” — meaning "assembly approves Bitcoin law" — which is the front-page headline carried by El Salvadoran daily Diario El Salvador on Wednesday. Esta es la portada de #DiarioElSalvador de este miércoles 9 de junio del 2021. #DiarioES #DES pic.twitter.com/D2tgNG2TPK — Diario El Salvador (@elsalvador) June 9, 2021 Poolin, the third-largest Bitcoin mining pool by hash …

Bitcoin (BTC) headed toward $35,000 on Wednesday, boosted by historic news that El Salvador had made it legal tender. Trader “not sure” whether Bitcoin has bottomed Data from Cointelegraph Markets Pro and TradingView showed a swift uptick in BTC/USD on Wednesday as Bitcoin saw its first adoption move by an official state. The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress. 62 out of 84 votes! History! #Btc — Nayib Bukele (@nayibbukele) June 9, 2021 While some celebrated the decision by El Salvador’s parliament, traders remained edgy. As Cointelegraph reported, expectations call for a short-term return to …

The bill introduced by the president of El Salvador to make Bitcoin (BTC) legal tender in the nation passed the Legislative Assembly with a supermajority just before 6:00 am UTC. In a Twitter Spaces conversation with 22,000 listeners that began just after 5:00 am UTC, President Nayib Bukele said he would sign off on the historic law later that night or first thing the next day. “It goes into effect immediately,” he said, clarifying the government would allow 90 days for the infrastructure to be put into place. The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress. …

Bitcoin (BTC) hodlers who want to earn BTC tax-free will get help to stay in El Salvador, the country's president has said. In a tweet on Monday, President Nayib Bukele said that his government would "help" settle foreign workers. El Salvador: "We'll help with this" The announcement is one of many that continue to come informally from Bukele, now famous for attempting to put El Salvador on a form of "Bitcoin standard." At last week's Bitcoin 2021 confernce in Miami, he told the audience in a prerecorded video message that he would send a bill to lawmakers demanding that Bitcoin …

Bitcoin (BTC) begins another week below $40,000 — but with two major new landmarks under its belt. After falling over continued FUD from China over the weekend, Bitcoin adoption has also seen an unexpected first — from El Salvador and Paraguay. With the world potentially about to greet its first two “Bitcoin nations” in history, there’s plenty to be bullish about, but can BTC price action catch up? Cointelegraph takes a look at five things that may change the status quo in BTC/USD over the coming days. Higher interest rates “good,” says Yellen A cursory look at the wider macro …

While it was billed as the “one of the biggest announcements in Bitcoin's history,” the market seems to be puzzling over the landmark reveal that El Salvador’s sitting President will be submitting legislation to recognize Bitcoin as legal tender. In a presentation at Bitcoin 2021 from Jack Mallers, CEO of Zap — developers of a previously low-profile Lightning Network wallet app named Strike — Mallers showed a short video from Salvadorian president Nayib Bukele where the leader of the 104th largest global economy announced the historic legislation. Strike currently has a 3.2 out of 5 star rating on the Google …

El Zonte, a village located in El Salvador, was hit hard by the COVID-19 pandemic. In response, the community implemented an economic system based in Bitcoin (BTC). According to a report published by Forbes, the community’s BTC-powered economy began to take hold after an anonymous donor gave a multi-year, six-figure donation to El Zonte in early 2019. Bitcoin used to pay for anything within the town Residents started to adopt Bitcoin as a local alternative to conventional financial solutions after their tourism sector was decimated by the pandemic. The article details that Bitcoin owners are able to use crypto to …