Bitcoin’s value shot up after El Salvador became the world’s first country to accept it as legal tender.
As of 3:30 a.m. ET on Thursday, the virtual currency was trading at $36,849 per coin, jumping about 7.9% over the last 24 hours, according to CoinDesk. Salvadorian lawmakers made history on Wednesday by approving a proposal from President Nayib Bukele that would allow bitcoin ( XBT) to be used as a form of legal tender in the country, alongside the US dollar. The law states that „all economic agents shall accept bitcoin as a form of payment when it is offered by the purchaser of a good or service.“ It also says that tax payments can now be made in bitcoin. The move delivers another win for cryptocurrency bulls as digital coins become more widely accepted around the world.
