BREAKDOWN: El Salvador Officially Made Bitcoin Legal Tender as President Bukele Casually Chatted on Twitter Spaces
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 9 June 2021
⏱️ 19 minutes
🧾️ Download transcript
Summary
Recapping a historic evening.
This episode is sponsored by Nexo.io.
Last night, El Salvador voted to pass the bill making Bitcoin legal tender. As representatives debated the bill, the President of El Salvador Nayib Bukele and his brother and campaign manager Karim Bukele surprise-joined a Twitter Space hosted by Nic Carter, where the president would spend about an hour answering questions.
In today’s episode, NLW breaks down:
- The substance of the bill
- Specific elements of the plan from the Spaces chat - including Volcano mining and the Bitcoin cost of foreign residency
- The historical significance of the moment for Bitcoin, media, El Salvador and more
-
Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.
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Image credit: Twitter Spaces Screenshot
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Transcript
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| 0:00.0 | I mean it's representative of the whole nation. The whole nation is behind this. |
| 0:04.0 | Wait, wait, they're voting right now. Let me see. |
| 0:08.0 | 17 against. I'll tell you the number, the specific number of the voting. |
| 0:13.0 | Remember that we only need 43 votes, but of 84. |
| 0:18.0 | This is the second round of voting right now and the last round. They're |
| 0:21.4 | applauding right now at the floor. I don't know if you can listen. Can you listen? I'm |
| 0:30.5 | clapping to cheer. So again congratulations to everyone. |
| 0:40.9 | Welcome back to The Breakdown with me, NLW. |
| 0:45.3 | It's a daily podcast on macro, Bitcoin, and the Big Picture Power Shifts remaking our world. |
| 0:52.0 | The Breakdown is sponsored by nexo.io and produced and distributed by CoinDesk. |
| 0:58.7 | What's going on, guys? It is Wednesday, June 9th. And what you just heard to open the show was the |
| 1:04.5 | sound of Kareem Buckele, the brother of the president of El Salvador, as well as his campaign manager, |
| 1:10.3 | narrating the passage of the bill by which El Salvador became the first nation in the world to recognize Bitcoin as legal tender. |
| 1:18.7 | It was part of a larger hour-long discussion last night with the president himself that happened wholly spontaneously on Nick Carter's space on Twitter, set up to casually chat while |
| 1:29.6 | he cooked himself pork chops for dinner. This conversation happened late at night, and I only |
| 1:34.6 | caught it by the grace of a fast flickering power outage in our house, which caused every appliance |
| 1:39.6 | to beep and wake me up. Me being a complete degenerate, I did a quick pass on Twitter before |
| 1:44.9 | heading back to sleep, and the first tweet I saw was from one minute earlier from Nick saying, |
| 1:51.2 | President of El Salvador in my Twitter spaces right now. Before we get into what he said, |
| 1:57.1 | let's go back to what happened over the previous 24 hours. The beginning of the day was a cascade |
| 2:01.7 | of politicians from Central and South America giving themselves laser eyes. We covered that on |
| 2:06.4 | yesterday's show. By the evening, though, the big news was the full text of El Salvador's Bitcoin |
... |
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