El Salvador Continues Its March Forward by Announcing the Creation of the World’s First Bitcoin City
The future is happening before our eyes.
On September 7, 2021, El Salvador made history by becoming the first country in the world to make Bitcoin a legal tender. A way for President Nayib Bukele to give his country a chance to get out of the circle of generalized impoverishment to which the current monetary and financial system has always condemned it.
A quick way to change for the better the lives of his population, which depends heavily on the money sent from abroad by migrants from El Salvador who have left to seek a better fortune in America. More than 6 billion dollars are sent every year to El Salvador this way, and the costs that this generates exceed 400 million dollars.
The Bitcoin standard implemented by El Salvador is already a total game-changer in this respect. Sending via the Lightning Network reduces transaction costs to a minimum.