A year ago, El Salvador became the first country to make Bitcoin legal tender – alongside the US dollar, which the Central American country adopted in 2001 to replace its own currency, the colón. President Nayib Bukele, a cryptocurrency enthusiast, promoted the initiative as one that would deliver multiple economic benefits. Making Bitcoin legal tender, he said, would attract foreign investment, generate jobs and help “push humanity at least a tiny bit into the right direction”. His ambitions extended to building an entire “Bitcoin city” – a tax-free haven funded by issuing US$1 billion in government bonds. The plan ... (full story)