BSC News

CZ Heads to El Salvador, Meets with Bukele on Bitcoin

El Salvador is the first country to make Bitcoin legal tender, and the talks are to explore cooperation with Binance.

CZ Meets El Salvador's President

Changpeng Zhao - better known as CZ Binance, has visited El Salvador for talks with the country's President, Nayib Bukele

El Salvador is seeking new avenues of foreign investment that will foster economic freedom for the country. The talks, which took place on March 25, centered on possible areas of cooperation between Binance - the world's biggest crypto ecosystem, and El Salvador regarding the use and adoption of Bitcoin:

"President @nayibbukele receives in @PresidenciaSV the CEO and founder of @BinanceES, Changpeng Zhao (@cz_binance), to talk about different investment topics in #ElSalvador through #Bitcoin," Diario El Salvador, a state-owned news tabloid, tweeted on March 25.
Source

El Salvador is the first country to recognize the Bitcoin cryptocurrency as legal tender. El Salvador's romance with Bitcoin has not gone well with traditional world bodies like the International Monetary Fund (IMF). However, the country recently dismissed IMF's disapproval and has embarked on an initiative to use clean geothermal energy for Bitcoin mining.

El Salvador may seem like a minor economic power. Still, its decision to make Bitcoin legal tender is an interesting experiment that could have a ripple effect on Bitcoin adoption worldwide. If El Salvador's Bitcoin experiment survives the doomsday warnings of bodies like the International Monetary Fund (IMF), we would expect more countries to warm up to giving Bitcoin and other cryptocurrencies legal status.

CZ Binance is gradually evolving into the world's top crypto apostle. Besides meeting with the president of El Salvador, CZ has also visited Brazil, Mexico, Colombia, Argentina, Uruguay, where he held talks with their leaders to try and raise state-approved crypto consciousness in those countries. 

Don’t forget to download the BSCNews mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto! 

Follow us on Twitter and Instagram!

How would you rate this article?

Related News