Bitcoin News – El Salvador has pioneered the world’s first Bitcoin-focused investment banks, integrating BTC into its financial system. As Bitcoin trades at $119,641.77 (₹10,437,243.12 in India), this move strengthens its status as legal tender in the country. The banks aim to facilitate BTC-based transactions, loans, and investments, potentially inspiring other nations.
Since adopting Bitcoin as legal tender in 2021, El Salvador has been a crypto trailblazer. This development could boost Bitcoin’s global adoption, especially in emerging economies like India, where crypto interest is surging.
The initiative aligns with Bitcoin’s 6.25% weekly gain and $90 billion in 24-hour trading volume. Institutional moves, like Metaplanet’s 18,113 BTC holdings, further tighten supply.
Challenges include regulatory pushback and Bitcoin’s energy consumption, criticized for using 1,173 KW hours per transaction.
Still, El Salvador’s bold step could drive financial inclusion, a key factor for Indian investors exploring crypto as a hedge. Stay updated with btcprice.in’s news and price alerts to navigate this evolving landscape.
Will El Salvador’s model inspire India? Follow btcprice.in for the latest Bitcoin news and INR price updates.
