El Salvador’s assembly agreed for $150M for Bitcoin-USD exchange

El Salvador's assembly agreed for $150M for Bitcoin-USD exchange 2

According to official reports, the government authorities of El Salvador are fully ready with their Bitcoin law plans to make Bitcoin payment better and easier for their citizens with fund of $150 million.

After the decision of El Salvador’s president to adopt Bitcoin as a legal tender, most of the organisations & authorities raised issues on the volatility of Bitcoin & described the decision as a biggest mistake.

Related: Anti-Bitcoin protest in El Salvador surges

But from time to time Hon’ble president Mr. Nayib Bukele clearly said that every citizen of El Salvador will have the option to accept Bitcoin payment with instant conversion in dollars. And all will depend upon the users.

And now today, the official news report of El Salvador clearly shows that Bitcoin’s price fluctuation will not lead to any problem for those who don’t want any type of fluctuations with their wealth.

As per officials, The Finance Commission of the legislative assembly of El Salvador approved $150 million for Bitcoin trust. This fund will help the Salvadorians to change their Bitcoin & US dollars funds swap instantly without any restrictions. 

Hayém Brevé, The El Salvadoran Minister of Economy, talked about this matter. And she said that few people are in fear of this decision but we already made a solution for that problem.

There are numbers of teams which are in the whole country at multiple locations which will help the citizens to use Chivo wallet.

“We have several teams in the territory to show the population how to use the Chivo Wallet. We have developed a friendly application,” so that the El Salvadorans can learn to use Bitcoin”

She also said that the whole world will watch El Salvador as the first country which will make Bitcoin as the currency.

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