The trust will allow local entrepreneurs to instantly convert bitcoins into US dollars.
On Monday, the government of El Salvador agreed to allocate $150 million to create a bitcoin trust that will handle exchanges between the US dollar and bitcoin.
According to the Minister of Economy, the size of the fund will increase in the future depending on demand.
In June, El Salvador passed a law that establishes Bitcoin as a legal means of payment on an equal basis with the dollar. The law comes into force on September 7.
According to the results of recent polls, more than 60% of the country's residents do not support this initiative. Local businessmen do not want to accept Bitcoin, and pensioners do not want to receive payments in cryptocurrencies.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
According to www.coindesk.com
You May Also Like
What happened to Bitcoin mining in 2021?
Miners who mine Bitcoin were able to earn more than $15 billion in 2021. However, judging by the dynamics of the main cryptocurrency this year, this is far from the limit of their income. What happened to mining in 2021 and what awaits it next?
As a result of the Fed meeting, financial markets began to recover
This Wednesday, the Fed held a meeting, the main topic of which was inflation. The markets reacted with growth.
