Can Bitcoin be a national currency? El Salvador is trying to find out.

SAN SALVADOR, El Salvador—President Nayib Bukele called Samson Mow, Canadian video game developer and bitcoin enthusiast, on stage at a bitcoin convention on the beach in November that had the flair of a rock concert.

In front of a screen emblazoned with the phrase “Feel the Bit”, Mr Mow unveiled the tiny Central American country’s new international financing idea: a plan to raise $1 billion by issuing the world’s first sovereign bond backed by bitcoins. The crowd, a mix of mostly crypto advocates, Bukele fans and a few curious locals, broke into loud cheers as they filmed the event on their smartphones.


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