El Salvador Just Made BITCOIN Its National Currency? #shorts | Economics Explained
Interactive Video
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Business
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7th - 12th Grade
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Practice Problem
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Hard
Wayground Content
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El Salvador has made Bitcoin legal tender, marking the first time a cryptocurrency is recognized as a national currency. The country, which uses American dollars, faces economic challenges as a net importer. Unable to print its own money, El Salvador hopes Bitcoin will help stabilize its economy by facilitating international transfers. Additionally, the government offers citizenship to those who invest in Bitcoin.
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2 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
How does the use of Bitcoin aim to stabilize the economy of El Salvador?
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the investment program related to Bitcoin in El Salvador?
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