El Salvador`s President Nayib Bukele said on Saturday (June 5) that he will send a bill to Congress next week to make bitcoin legal tender in the country.


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"In the short term this will generate jobs and help provide financial inclusion to thousands outside the formal economy," Bukele said in a video shown at the Bitcoin 2021 conference in Miami.


Strike, a mobile payments app that launched in El Salvador in March, said in a statement that it welcomed the legislation and was working with the country to make using bitcoin technology a success.


“This is the shot heard round the world for bitcoin," Strike founder and CEO Jack Mallers was quoted as saying at the Miami conference.


"Adopting a natively digital currency as legal tender provides El Salvador the most secure, efficient and globally integrated open payments network in the world," Mallers said.


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