Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
⭐ Merited by JayJuanGee (1)
If you get a replacement fender for your car in El Salvador with Bitcoin, does that mean Bitcoin has become fender tender?
One day, I hope we get the ability to use Bitcoin as collateral to take loans on like property, we are not selling it and then using that Bitcoin to get whatever it is you want
Well this statement makes me curious to know about if this is already happening in El Salvador and find this https://cointelegraph.com/news/el-salvador-explores-low-interest-loans-backed-by-bitcoin.
Also they explore this possibilities.
Quote
El Salvador's President, Nayib Bukele, continues to offer Bitcoin-related initiatives in the Latin American country. This time, the El Salvadoran government has proposed to establish a Bitcoin bank to attract billions in investments from foreign countries.
Read more here https://dailycoin.com/el-salvador-builds-bitcoin-bank-to-bolster-foreign-investment/
Imagine how everything turn into their favor now and El Salvador is gaining a lot of momentum especially for their countries growth by taking good decisions with bitcoin. This one really make those doubters scratch their heads and for sure they regret on why they didn't support bitcoin earlier.