El Salvador President Announces Bitcoin as “Legal Currency”

On stage at the Bitcoin 2021 Conference, Strike founder and CEO Jack Mallers announced that his company would be helping the country of El Salvador in its decision to be the first country to accept Bitcoin as legal tender:

Historic moment.

El Salvador on track to become the first country to accept Bitcoin as legal tender and to hold Bitcoin as a reserve asset.

The future is wide open.@JackMallers is a legend. pic.twitter.com/NMiFNBD1ck

— Alex Gladstein (@gladstein) June 5, 2021

This news was confirmed by the President of El Salvador, Nayib Bukele. who announced that Bitcoin would be legal currency, not subject to capital gains taxes:

1. Great weather, world class surfing beaches, beach front properties for sale.
2. One of the few countries in the world with no property tax.
3. No capital gains tax for #Bitcoin, since it will be a legal currency.
4. Immediate permanent residence for crypto entrepreneurs. https://t.co/j3eugJQCMd

— Nayib Bukele ?? (@nayibbukele) June 6, 2021

He also updated his Twitter picture with the popular “laser eyes” meme, becoming the first world leader to do so:

#NewProfilePic pic.twitter.com/JrMUkryZuk

— Nayib Bukele ?? (@nayibbukele) June 6, 2021