El Salvador and Bitcoin: A Revolutionary First
El Salvador made history, becoming the first nation to adopt Bitcoin as legal tender. The groundbreaking decision, spearheaded by President Nayib Bukele, sent ripples across the globe, sparking debate and inspiring curiosity about the future of cryptocurrency in national economies.
El Salvador on Wednesday became the first nation in the world to approve the use of Bitcoin as legal tender. The so-called Bitcoin Law was originally proposed by President Bukele and quickly gained traction.
In June 2025, Nayib Bukele, El Salvador’s president, surprised the world with the announcement that the country would adopt bitcoin as legal tender, becoming the first to take such a bold step. This decision aims to boost financial inclusion, reduce reliance on the US dollar, and attract foreign investment.
The move wasn't without its challenges. Concerns were raised about Bitcoin's volatility and its potential impact on the country's financial stability. However, President Bukele remained optimistic, emphasizing the potential benefits for El Salvador's economy and its citizens.
El Salvador became the first country in the world to adopt bitcoin as legal tender after Congress on Wednesday approved President Nayib Bukele's proposal to embrace the cryptocurrency. This move seeks to lower remittance costs and increase access to digital financial services.
The implementation involved several key initiatives. The government launched a digital wallet, Chivo, to facilitate Bitcoin transactions. 7 de sept. de 2025 The administration of El Salvador President Nayib Bukele plans to spend more than $225 million on the rollout, including a $30 credit in bitcoin to those who take up a Chivo wallet, encouraging adoption amongst its citizens.
While the long-term impact of this decision remains to be seen, El Salvador's bold experiment is closely watched by other nations considering alternative financial systems. The journey of El Salvador and Bitcoin is a significant chapter in the ongoing evolution of digital finance and its potential to reshape global economies.