Bitcoin, the world’s largest cryptocurrency with the ticker symbol BTC, has experienced a drop to $23,751. However, the adoption of Bitcoin by El Salvador has resulted in the establishment of a “Bitcoin Embassy” in the United States, further expanding its reach across countries.
El Salvador has partnered with the Texas government to create the embassy, which will serve as a representative office for El Salvador and focus on joint initiatives to promote Bitcoin adoption.
Milena Mayorga, the Salvadoran Ambassador to the United States, made the announcement on Feb. 14 through a statement on Twitter. El Salvador is also in talks to establish a similar embassy in Lugano, Switzerland, to encourage Bitcoin adoption in Europe. El Salvador was the first country to adopt Bitcoin as legal tender in 2021 and has recently passed a law to facilitate the issuance of a bitcoin-backed bond.
It can be presumed that the proposed embassy in Texas will serve a similar purpose in promoting Bitcoin adoption in the United States.