BlockBeats News, September 7th. On September 7, 2021, El Salvador officially became the world's first country to adopt Bitcoin as a legal tender. President Nayib Bukele led the Salvadoran Congress to pass the "Bitcoin Law" in June 2021, which stipulates that Bitcoin can be used for payment of goods, services, taxes, etc., and is on par with the US dollar as a legal tender. The Salvadoran government subsequently launched the digital wallet "Chivo," which allows citizens to store and use Bitcoin, provides a $30 Bitcoin reward to registered users, and has deployed Bitcoin ATMs nationwide for easier transactions.
According to data from the Salvadoran Ministry of Finance website, El Salvador has accumulated an additional 8 bitcoins in the past 7 days, bringing its total Bitcoin holdings to 6,291.18 bitcoins, valued at over $690 million.