El Salvador makes a historic move on Bitcoin

Yesterday there were some headlines suggesting that the Latin American state of El Salvador might make a historic move in respect of Bitcoin. Well, that has indeed been the case with the Latin American country being the first nation to adopt Bitcoin as legal tender. That news comes from CNBC. Now before you all rush out and buy Bitcoin on the back of this, there are a number of caveats to this historic decision and questions as to why the move has been made. The answers to many of those may appear obvious to the trained and most cynical eye. Hence, it is hoped; that the reason behind this decision is patently obvious. Apart from anything else the country is in a perilous financial positon and the political situation is at best unstable. Leaving that all aside, this decision will surely act as a milestone for many who are in full support of such moves elsewhere. Bitcoin has made some progress today too, but as to whether that is entirely connected to this decision is unclear. Bitcoin is currently trading at 33,740