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Can bitcoin be a national currency? El Salvador is trying to find out

 wsj 11 min read Kejal Vyas 18 Feb 2022, 12:10 AM IST

The country made bitcoin legal tender last September and now is aiming to raise $1 billion to fund expansive economic policies by cashing in on the crypto craze. But the IMF warns bitcoin is too risky, and Salvadorans are mostly sticking to dollars

Since bitcoin’s adoption as currency, its use in day-to-day transactions has been rare, and a recent poll found that about 70% of respondents didn’t trust the government’s move. (Photo: Reuters)Premium
Since bitcoin’s adoption as currency, its use in day-to-day transactions has been rare, and a recent poll found that about 70% of respondents didn’t trust the government’s move. (Photo: Reuters)

SAN SALVADOR (EL SALVADOR) : President Nayib Bukele called Canadian videogame developer and bitcoin enthusiast Samson Mow up on stage at a beachside bitcoin convention in November that had the flair of a rock concert.

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