What country recently became the first to accept Bitcoin as legal tender?

Here is the question :

WHAT COUNTRY RECENTLY BECAME THE FIRST TO ACCEPT BITCOIN AS LEGAL TENDER?


Here is the option for the question :

  • El Salvador
  • South Korea
  • Brazil
  • Monaco

The Answer:

And, the answer for the the question is :

El Salvador

Explanation:

[STC00748] On September 7, 2021, El Salvador became the first government in history to recognize the digital currency Bitcoin as a valid form of payment for goods and services. President Nayib Bukele of El Salvador came up with the revolutionary strategy in an effort to take advantage of his enormous popularity in the country and implement some forward-thinking improvements to the country’s monetary system. Bukele argues that Bitcoin will allow Salvadorans to save $400 million a year on commissions for remittances and will give access to financial services to people with no bank account. The change pushes businesses in the country to accept payment in bitcoin alongside the U.S. dollar, which is El Salvador’s other official currency.