• El Salvador and Texas are forming a new partnership to open a „bitcoin embassy“ to promote the use of bitcoin.
• El Salvador made headline news when it announced plans to make BTC legal tender in late 2021.
• The enterprise announced that it would not provide any aid with El Salvador’s bitcoin agenda, citing the digital currency as too volatile to be taken seriously.
El Salvador and Texas Form Bitcoin Embassy
The bitcoin-loving nation of El Salvador has announced a new partnership with the state of Texas. Together, the two regions are planning to open what they’re calling a „bitcoin embassy“ as a means of promoting use and increasing adoption. Milena Mayorga – El Salvador’s ambassador to the U.S. – put out a tweet in mid-February saying the following: The state of Texas, our new ally.
El Salvador Makes BTC Legal Tender
El Salvador shocked the world in late 2021 when it announced plans to make BTC legal tender. It was the first country to do so. This meant people could go into any shop or business and purchase goods and services with bitcoin they way they would with USD, the fiat currency that El Salvador had long been dependent on.
World Bank Reacts Negatively
The enterprise announced that it would not provide any aid with El Salvador’s bitcoin agenda, citing the digital currency as too volatile to be taken seriously. It also voiced its opinion that El Salvador was making a big mistake, and that it would live to regret its decision. Oddly, it looked like many residents of the Central American country agreed upon bitcoin’s implementation as a digital form of payment, many residents took to the streets of their capital city rioting against government policy regarding cryptocurrency adoption.
Texas & El Salvado Partnership Strengthens
The partnership between Texas and El Salvado makes sense given both regions took part in more than $1.2 trillion worth of commercial transactions last year alone – demonstrating their mutual interest in financial transactions beyond traditional currencies like USD or EURO etc.. Furthermore this is not only for strengthening their bond but also for boosting their agenda on crypto-currency such as Bitcoin which can eventually increase price hikes for both countries‘ citizens alike downline – which will arguably serve them well in coming months/years!
It is clear that both regions have strong bonds which cannot be broken easily; these bonds will likely only be further strengthened through mutual love for cryptocurrencies such as Bitcoin which may ultimately benefit both countries‘ citizens alike through increased price hikes over time!