Mangrove’s Jackson sees bitcoin uptrend continuing
28 September 2017 | 10:10 am
Michael Jackson, a partner at Mangrove Capital Partners, discusses the rise in the price of bitcoin and what's ahead for the cryptocurrency.
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The Congress of El Salvador has approved a law that will classify bitcoin as legal tender in the Central American country, its president said, making it the world's first nation to adopt a cryptocurrency.
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El Salvador has become the first country in the world to make Bitcoin legal tender, despite surveys showing widespread scepticism about the move. The government has invested more than $20 million in the cryptocurrency in recent days, saying it will open up access to banking for many Salvadorans. Bitcoin will be accepted for payments in parallel with the US dollar. Also today, millions of Americans have lost their unemployment benefits as several pandemic-era welfare programmes have expired.
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