рљрѕсђрѕр рµрісѓрєрёрµ рірѕсђрѕс р в 9 By Ivan Nistelrooy Issuu Bitcoin as legal tender in el salvador (nber working paper 29968), fernando e. alvarez, david argente, and diana van patten report on a nationally representative, face to face survey of 1,800 salvadoran households that explored the breadth of the digital currency’s acceptance and the reasons more salvadorans are not taking advantage of the. A currency’s essential feature is to be a medium of exchange. we leverage a quasi natural experiment—el salvador as the first country to make bitcoin legal tender—to study a cryptocurrency’s potential to be used in daily transactions. the government also launched and provided incentives to download and use a digital wallet named chivo.
українським медикам які працюють на тимчасово окупованих територіях Nber working paper no. 29968 april 2022, revised february 2023 jel no. e4,e41,e42 abstract a currency’s essential feature is to be a medium of exchange. we leverage a quasi natural experiment—el salvador as the rst country to make bitcoin legal tender—to study a cryptocurrency’s potential to be used in daily transactions. Bitcoin as legal tender in el salvador. this paper studies the potential of a cryptocurrency to become a medium of exchange. we use evidence from a natural experiment: in september 2021, el salvador became the first country in the world to make bitcoin legal tender, and all economic agents were required to accept bitcoin for all payments. Etary experiments. in 2001, the usd became legal tender and the country’s only official currency (33). later, on 7 september 2021, el salvador became the first country to make bitcoin legal tender through the bitcoin law. although there might be many reasons be hind the decision, when the policy was an nounced, the president stated that it would. Salvadorans are also wary of volatility. bitcoin can shed hundreds of dollars in value in a day. ahead of the launch, el salvador bought 400 bitcoins worth around $20 million, bukele said, helping.
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