As the law to make Bitcoin a legal tender goes into effect, El Salvador’s leading newspaper has started tracking BTC’s price to help the citizens adopt the new currency.
Starting today, businesses in El Salvador have to offer Bitcoin payment services. In response, the nation’s largest newspaper includes a BTC price tracker on the homepage.
BTC Price Tracker
The newspaper’s homepage displays a live BTC price tracker. Salvadorians can locate the feature on the top right-hand of the screen. The tracker measure BTC’s value in Tether (USDT), a stablecoin attached to the United States dollar.
The BTC tracker will ensure convenience since the citizens have to accept BTC payments in their day-to-day enterprise activities. For now, BTC’s price is not that stable compared to the United States dollar. That means businesses will accept BTC payments at varying rates for a similar product in the coming months.
Interestingly, the newspaper has several articles highlighting that most Salvadorians are doubtful about Bitcoin adoption. That matched the reports by CryptoPotato that indicated anti-BTC protestors storming El Salvador streets over the recent days. The citizens’ uncertainty follows the massive volatility related to Bitcoin and criminal activities.
Nayib Bukele on BTC Legalization
Nayib Bukele, El Salvador President, paid no attention to the skepticism surrounding his BTC law implementation. He is confident that his move will help strengthen the nation’s wealth as he constantly dismissed negative news coverage about the decision by his administration. For instance, the leader rejected the upcoming ‘media FUD’ that he already predicted.
As far as the halls of power are concerned, the BTC law received remarkable positivity. After the law passed with a majority vote back in June, the administration recently purchased 400 BTC tokens. With that, it became the first country in the globe to invest in Bitcoin.
Moreover, the Salvadorian government promised its citizen BTC worth $30 after registering with the Chivo wallet, which faces some problems while writing this. Though the citizens remain doubtful about the new way of transacting, the crypto community pledged to purchase $30 BTC to support the move by the country.
Feel free to share your thoughts about the progress by El Salvador to adopt BTC? Will more nations follow with similar moves? Comment below.