El Salvador’s President Nayib Buquele initiated a law recognizing bitcoin as a means of payment in 2021. He said that his country’s tourism sector grew by 95% after the legalization of cryptocurrency.
Central banks are tightening monetary policy and forcing people to switch to alternative financial instruments.
The recognition of bitcoin as a means of payment has boosted tourism in El Salvador. Cryptocurrency fans started coming to the country. In addition, we regularly hold conferences on the blockchain industry, the president wrote on Twitter.