The Good, the Bad, and the Ugly as El Salvador Celebrates First Bitcoin Adoption Birthday

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The Good, the Bad, and the Ugly as El Salvador Celebrates First Bitcoin Adoption Birthday
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Today marks the first anniversary of El Salvador adopting bitcoin as a legal tender inside its borders. Let's see how it's going so far.

Today marks the first anniversary of El Salvador adopting bitcoin as a legal tender inside its borders. Let’s see how it’s going so far.

Since then, another one has followed El Salvador’s example, while the Bukele-led country has seen a lot of developments on the bitcoin front, some positive and some negative.It was the summer of 2021 – shortly after the cryptocurrency had painted a fresh all-time high in terms of USD value – when the entire world was talking about the asset. Companies from the traditional finance industry, as well as giants like Tesla and MicroStrategy, were rushing to deal with it.

Despite the inevitable backlash from numerous entities and officials, the country’s President – Nayib Bukele –

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