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Bitcoin: Will El Salvador's big crypto gamble pay off? – BBC News
Posted
June 18, 2022
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83,419
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June 18, 2022
83,419
1,519
1,095
3.13%
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12:54Now PlayingThe falling value of Bitcoin is affecting investors all over the world.
It’s putting increased pressure on the Central American state of El Salvador, which nine months ago made cryptocurrency legal tender.
As legal tender it should be accepted in all shops, you can now buy almost anything in Bitcoin, from pizza to real estate.
The government has encouraged people to use Bitcoin by giving $30 to each person who signs up for a government-sponsored Bitcoin wallet – and offering treatment for pets at a cost of just 25 cents for those who pay in Bitcoin.
But aside from some pockets of enthusiasm, people do not seem to be embracing the cryptocurrency as much as their Bitcoin-loving president who is under increasing criticism for investing so much public money in the project.
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