El Salvador is opening a 'bitcoin embassy' in Texas in a bid to promote more acceptance of crypto

Wed, 02/15/2023 - 15:00

President of El Salvador, Nayib Bukele, gestures during his speech at the closing ceremony of the Latin Bitcoin conference at Mizata Beach, El Salvador, on November 20, 2021. — El Salvador President Nayib Bukele during the Latin Bitcoin conference in November 2021.
Marvin Recinos/AFP via Getty Images

El Salvador plans to open a "Bitcoin Embassy" in the US as it pushes for wider adoption of crypto.
El Salvador, the first country to adopt bitcoin as legal tender, said the office will be based in Texas.
It's already embarked on the embassy idea, reaching a deal with Switzerland last year.

El Salvador is planning to open a "Bitcoin Embassy" in the US, continuing to push for wider adoption of the cryptocurrency even after losing millions of dollars on its high-profile bets on the token.