El Salvador becomes first country to adopt Bitcoin as legal tender

El Salvador will adopt Bitcoin as a legal tender in the country, becoming the first in the world to formally embrace the volatile cryptocurrency as such.

The Latin American country's congress voted overwhelmingly in favor of the law late Tuesday, pushing forward Salvadoran President Nayib Bukele's proposal. The 39-year-old politician's party holds a supermajority in El Salvador's congress.  "It will bring financial inclusion, investment, tourism, innovation and economic development for our country," Bukele said before the vote.