First nation to make Bitcoin legal tender
Fear & Greed
Greed
Bitcoin Price
$46,000
30-Day Change
-19%
What Happened
On September 7, 2021, El Salvador became the first country in the world to adopt Bitcoin as legal tender under President Nayib Bukele. The move was met with both celebration and skepticism, the IMF criticized the decision, credit agencies downgraded El Salvador's debt, and protests erupted domestically. Yet the Chivo wallet launch, Bitcoin bond proposals, and "buying the dip" tweets from Bukele created an entirely new narrative category: nation-state Bitcoin adoption. The Fear & Greed Index was at 73 (Greed), reflecting the market's optimism about sovereign adoption.
Key Narratives