El Salvador officially adopted Bitcoin as legal tender today and has purchased the first batch of 400 Bitcoins.

At around 10:00 on June 9, 2021, El Salvador’s President Nayib Bukele tweeted to officially submit the Bitcoin bill to the Legislative Assembly of the Republic of El Salvador. According to Article 16 of the bill’s entry into force and transitional provisions: “This law will take effect ninety days after its publication in the Government Gazette.” El Salvador’s local time on September 7 (UTC+8 at 14:00 on the 7th) came into effect. The currency officially became the national legal tender of the Republic of El Salvador.