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Tuesday, July 1, 2025

Bitcoin: Will El Salvador's big crypto gamble pay off? - BBC

Many shops make clear to customers that they accept Bitcoin
Cryptocurrencies have continued to tumble this week with billions wiped from the value of tokens like Bitcoin. The crash is affecting investors worldwide, including the government of El Salvador. The Central American country has poured millions of dollars into Bitcoin and made it legal tender nine months ago, encouraging people to use it for day-to-day transactions.
From trinkets and tacos to petrol and even houses - you can shop for pretty much anything in El Salvador with Bitcoin. Buying with cryptocurrency from street sellers and major chains alike is a remarkable experience.
It shows how far Bitcoin has come since it was dreamt up on internet forums back in 2008.
The decision by President Nayib Bukele to make the cryptocurrency legal tender means that in theory it must now be accepted by all businesses, alongside El Salvador's other currency, the US dollar.
But the latest cryptocurrency crash has prompted more questions...



Read Full Story: https://www.bbc.com/news/technology-61813845

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