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Fast Food giants McDonald’s and Pizza Hut in El Salvador have placed BTC payments up and running. El Salvador just recently launched BTC as a legal tender, and some believed it would take time for businesses to catch up. However, those who thought people weren’t ready are in for a shock.
Aaron Van Wirdum, a journalist, reported he could make purchases in Central America using crypto. Moreover, he admitted to being surprised at how fast the payment was and shared a photo of the meal he had ordered.
El Salvador’s President
Nayib Bukele, El Salvador’s president, educated his nation on using Bitcoin. Citizens moved to update Bitcoin wallets termed as “Chivo.” The president moved on to explain how big industries would integrate with Bitcoin. Bukele insisted that phone companies, including Movistar Claro, accept BTC.
The step taken by El Salvador is bold considering the delays in Latin America to pass laws. The tide of events favours Bitcoiners globally.
In addition, Nayib invited his citizens to Pizza Hut, the most popular pizza palace in El Salvador. He took on the responsibility of educating the general masses on using the “Chivo” wallet. Users at Starbucks have shared similar sentiments on how easy it is to use Bitcoin. In his tweet, Mario Aguiliz hoped Bitcoin’s success in El Salvador wouldn’t become the new 10,000 BTC pizza.
Bitcoin’s New Era
The recent events in El Salvador may almost go unnoticed. Critics dismiss the progress because El Salvador’s economy is small. However, big industries accepting bitcoin could trigger a global phenomenon.
Lighting Network conducts most bitcoin transactions in the country. Once multiple users see the benefits of the network compared to traditional means, the boom is imminent. Joshua Shultz, a BTC user, commented that purchases through bitcoin are profitable. The fact is due to the decentralized nature of crypto that eliminates intermediaries.
El Salvador’s Bitcoin law was passed on Tuesday, September 7th. The nation’s government purchased its BTC held in reserves. Many bitcoiners are wondering to what extent investors will use BTC outside the country. It is yet to be confirmed whether Nike and Walmart will accept BTC in El Salvador.
There is an ongoing debate whether El Salvador will fail in its endeavour. The results would indicate the future of BTC in the global economy. With bitcoins` recognition as a legal tender, citizens have new options and an improved economy. El Salvador’s gambit could prove helpful and successful worldwide.
In the hope of each Bitcoin enthusiast, the coin’s acceptance crosses over to their countries. Everyone is on the lookout for the success or failure of bitcoin in El Salvador. The aftermath results could indicate the direction of Bitcoin adoption by governments.
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