El Salvador Bitcoin Emerging Economies

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The green shadow cast by the U.S. dollar on developing countries is being lifted. In El Salvador, it’s now approaching high noon.

Growing up in El Salvador during its civil war, I never thought I would witness my home country filled with so much hope for the future, let alone leading the way for others. The government’s recently passed law making bitcoin legal tender is set to take effect on September 7 — making it the first country in the world to do so.

The catalyst behind the bold move is El Salvadorian President Nayib Bukele, a forward-thinking, entrepreneurial-spirited leader who has created a template for other countries like Paraguay, Mexico, Panama and Venezuela to follow. Bukele is the first president elected outside of the two main parties since the civil war, the youngest president in history (at 37 years old) and he won on a platform of modernization. Bukele is keeping his streak of firsts alive by illuminating how bitcoin can transform the country’s financial system for the better and by showing a path for other countries with emerging economies to get out from under the USD’s shadow.


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