El Salvador’s president, Nayib Bukele, tweeted late Sunday that 44 countries will gather in El Salvador on Monday to discuss bitcoin, among other topics.Today (Monday, May 16th), 32 countries and 12 financial authorities will gather in El Salvador to discuss financial inclusion, the digital economy, banking the unbanked, and the country’s Bitcoin (BTC) rollout and benefits.
Bitcoin users and other crypto enthusiast are expecting a major adoption of BTC as a form of legal tender in this meeting. The price of bitcoin began to rise ahead of President Nayib Bukele’s announcement. Bitcoin’s recovery began over the weekend, and the asset has risen above $30,000.
El Salvador was the first country to legalise Bitcoin. Shortly after, the government released the Chivo Wallet app, as well as a public awareness campaign about how to utilise it. This digital wallet allows users to send and receive bitcoin and dollars for free. It also holds the cryptocurrency on its balance sheet, having accumulated over 2,000 bitcoins to date (worth over $60 million at current prices).
According to his tweet
Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country.
The Country List & Financial Authorities List Are As Follows
On Friday, May 13, the Twitter account for Bitcoin Beach announced that “Central bankers from Angola, Armenia, Bangladesh, Burundi, Congo, Costa Rica, Egypt, Gambia, Ghana, India, Namibia, Senegal, Sundan, Uganda, Zambia and 25 other developing countries are getting on planes today to fly to El Salvador.”
El Salvador’s introduction of Bitcoin as legal cash has brought various benefits to the country, and authorities are eager to gather more data in order to refine their strategy for incorporating Bitcoin into the country’s economy and expansion ambitions.
According to a study published by the US National Bureau of Economic Research, only 40% of Salvadorans (4 out of 10) who downloaded the government-run Bitcoin wallet said they still use it after receiving the $30 Bitcoin (BTC) incentive from President Nayib Bukele’s administration.
Bitcoin had a turbulent fall last week after massive liquidations sent shockwaves through the markets. The original cryptocurrency reached a low of $26,910 on the 12th of May
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