It is no longer news that El Salvador is the first country to adopt bitcoin as a legal tender worldwide. What is news is that the historical news is now etched on a bitcoin block.
Bitcoin Block 686,938 Used for Its Memorialization
According to Blockchair, a blockchain data explorer service, the bitcoin block 686,938 displays the words “Asamblea aprueba la ley bitcoin,” which translates to “bitcoin now legally approved by the assembly.”
Those were headline words used by Diario El Salvador, a top daily newspaper in the country. Next, Poolin mined the transaction block that displayed the statement as tweeted by the documenting bitcoin, a leading bitcoin news aggregator.
Documenting Bitcoin Tweet. Source: Twitter
As previously reported by Tokenhell, El Salvador‘s legal reps passed the motion to legalize bitcoin as a means of transaction. After El Salvador’s bitcoin approval, other political office holders in Latin America are starting to consider towing the same step. This rumor has been exciting news to several bitcoin and crypto enthusiasts.
Chris Burniske, a co-founder at Placeholder VC, a blockchain-focused VC fund firm, reacted to the news from El Salvador with a tweet. He said that a similar adoption by other Latin American countries could help them achieve almost parity with the dollar and help them reduce their debt profile.
Burniske’s words seem to have an effect; Paraguay and Panama have started hastening the process of incorporating bitcoin and other cryptocurrencies into their economies. During this week, ex-US president Donald trump reiterated his opinion about bitcoin calling the leading cryptocurrency a big scam.
References That Memorialize Various Bitcoin Milestones
Poolin’s celebration of El Salvador’s bitcoin legalization with a historic block coincides with the Genesis block bitcoin’s tenth anniversary. There are also various bitcoin blocks with various references and messages to honor several milestone achievements in the bitcoin world.
For example, in January this year, when the block height 666,666 was mined, the mining pool created etched a bible verse from Romans 12:21 on it. Romans 12:21 states that “do not let evil conquer you, but conquer evil with good.” Similarly, F2Pool, another bitcoin mining pool that mined the bitcoin block 679,187, etched a politically motivated message on that block.
Wikipedia Lists Bitcoin As El Salvador’s Currency
Per the documenting bitcoin official Twitter account, El Salvador’s Wikipedia page is updated to include bitcoin as one of its official currencies. You would recall that on Tuesday, June 8, 2021, the Salvadorian congress approved bitcoin to become a legal means of transaction in the country, making it the first country to do so.
Documenting Bitcoin Wikipedia Update. Source: Twitter
However, the authorities have given traders and the entire populace three months to prepare for the full implementation of this new legal tender. Most crypto enthusiasts had believed that first-world countries would be the first to adopt blockchain technology or use bitcoin as a legal tender. Therefore, it came as a surprise that the so-called less developed countries are taking this bold step ahead of these first-world nations.