This is the best tl;dr I could make, original reduced by 48%. (I'm a bot)
Today, El Salvador has become the first country to legalize bitcoin as a legal tender.
The purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out.
A few days back, In a recorded message presented at a Bitcoin conference, a multi-day convention in Miami being billed as the most notable bitcoin event in history, President Nayib Bukele declared El Salvador's collaboration with Strike, a digital wallet company, to establish the country's advanced financial infrastructure using Bitcoin technology.
In El Salvador, we are trying to rescue this idea and start the design of a country for the future using the best ingredients that make us who we are while using sensibility to find the best example of ideas from history and around the I believe Bitcoin could be one of these ideas.
If 1% of it is invested in El Salvador, it will improve its GDP by 25%. Bitcoin is infamous for its extreme price swings, which have led some detractors to conclude that it is unfit to be used as a currency.
It's still unclear how El Salvador will use bitcoin as legal cash in the long run.
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