in florida that he ll make the crypto currency legal tender in his country alongside the us dollar. if congress backs his proposal, el salvador would become the first country in the world to formally adopt bitcoin. aru na iyengar reports. miami, and a bitcoin conference generates huge interest not least because of this announcement from the salvadoran president. next week i will send to congress a bill that will make bitcoin legal tender. in the short term this will generate jobs and help financial inclusion. nayib bukele says that using bitcoin would make it easier and cheaper for salvadorans living abroad to send money home. about one quarter of el salvadorans live in the us, and last year they sent home nearly $6 billion in remittances. this involves costly fees. presidetn nayib bukele also says bitcoin will help attract investment and open up financial services to the 70% of the population who don t
from the salvadoran president. next week i will send to congress a bill that will make bitcoin legal tender. in the short term this will generate jobs and help financial inclusion. nayib bukele says that using bitcoin would make it easier and cheaper for salvadorans living abroad to send money home. about one quarter of el salvadorans live in the us, and last year they sent home nearly $6 billion in remittances. this involves costly fees. presidetn nayib bukele also says bitcoin will help attract investment and open up financial services to the 70% of the population who don t have bank accounts. it is a bold move he is a young media savvy and popular leader who is keen to be seen as an innovator. his new ideas party took control of congress after midterm elections in february. he has made clear his intention to make his country truly sovereign.