In 2021, the El Salvadoran President, Nayib Bukele, announced that his country would be the first in officially adopting Bitcoin as legal tender.

The President implemented new laws that would that require all vendors to accept payments in the cryptocurrency alongside US dollars, promising his decision would “push humanity” forward in “the right direction”

However, reports are suggesting that El Salvador’s year long experiment with Bitcoin hasn’t reached the dizzying heights Bukele predicted.

Image: Image: Wikimedia Commons: Prditobanx

Produced By: Matthew van Wyk

Featured In Story: Dr John Hawkins, Senior Lecturer in the School of Politics, Economic and Society, University of Canberra

First aired on The Wire, Monday 12 September 2022