Updated: Jun 6, 2021
To many - this announcement might not seem that significant. However, you'd be WRONG.
What Jack Mallers and the President of El Salvador just did was a BIG F'U to the Fed and Central Banks around the globe.
El Salvador becomes the first country to adopt Bitcoin as Legal Tender. This could set the stage for an arms race of source for other countries to begin adopting Bitcoin as Legal Tender. Shifting to a Bitcoin Standard vice a USD standard globally.
Many will look back on this day and say this is where it begin. Yes Japan made Bitcoin an acceptable form of payment but not Legal Tender.
This is a game changer for sure and as Jack said - it's a small step for Bitcoin but the broader step will be for humanity. This will allow the people of El Salvador to begin living with a money that doesn't deflate and they will be able to gain access to sophisticated financial service with just their mobile devices and a Strike app.
I am incredibly excited for what this will do for that country and other developing countries that are watching and will follow in their footsteps - changing the global financial structure for sure. El Salvador will put #Bitcoin on their balance sheet!
More to be revealed! Congratulations Jack Mallers - you are one Badass Bitcoiner!