El Salvador’s bitcoin push: What does it mean for cryptocurrency?

El Salvador has become the first country in the world to adopt bitcoin as legal tender, with President Nayib Bukele touting its use for its potential to help Salvadorans living abroad to send remittances back home.

Here’s what the move means for bitcoin as a mainstream currency – and emerging markets such as El Salvador:

WHAT DOES THE LAW SAY?

El Salvador has become the first country in the world to adopt bitcoin as legal tender, with President Nayib Bukele touting its use for its potential to help Salvadorans living abroad to send remittances back home.