Nayib Bukele’s El Salvador Is Mainstreaming Bitcoin By Putting The Price Where Everyone Can See It: ‘Over The Next Year They’ll All Watch…’
By Benzinga
Bitcoin (CRYPTO: BTC) advocate Jamie Robinson recently drew attention to digital displays exhibiting the price of the leading cryptocurrency in El Salvador, a sight visible to thousands of commuters daily.
What Happened: On Saturday, Robinson took to X to highlight Bitcoin’s rising mainstream acceptance in the Central American nation.
“Digital displays with the Bitcoin price now in El Salvador. Tens of thousands drive past this major intersection every day! ” Robinson said. “Over the next year they’ll all watch the price change.”
According to Robinson, the digital displays were placed at the intersection between Av. De La Revolucion and the Alameda Doctor Manuel Enrique Araujo in the capital, Sal Salvador.
Robinson serves as the chief strategy officer of The Bitcoin Hardware Store, which houses hardware wallets, textbooks, and merchandise related to the apex cryptocurrency,
Why It Matters: El Salvador has been making significant strides in integrating Bitcoin into the mainstream ever since adopting it as legal tender in 2021. The country’s ambitious ‘Bitcoin City’ project attracted a $1.6 billion investment from a Turkey-based company, marking the largest private investment in the nation’s history.
In fact, El Salvador’s Ministry of Education has partnered with a non-profit organization to incorporate Bitcoin education into the public school curriculum by 2024.
However, despite these efforts, the adoption of Bitcoin as a legal tender in the country hasn’t seen the expected widespread uptake. President Nayib Bukele admitted recently that the results could have been better, but emphasized that the choice to use Bitcoin was left to the public.
Price Action: At the time of writing, Bitcoin was trading just below $59,176.16, up 1.59% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Shutterstock.com
Read Next:
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
