September 7, 2021 · Adoption Event
El Salvador Adopts Bitcoin
First nation to make Bitcoin legal tender
Crypto Fear & Greed
79
Extreme Greed
Source: Alternative.me, September 7, 2021
Bitcoin price
$46,000
30-day change
-19%
Lower 30 days later
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. Alternative.me's Crypto Fear & Greed Index read 79 (Extreme Greed) that day.
Key narratives
- Nation-state adoption
- Legal tender debate
- IMF criticism
About the score
The score is the daily value of the Crypto Fear & Greed Index, Alternative.me, a composite of market and attention data. Perception’s own media-based reading for the same day is in the daily sentiment archive for September 7, 2021.
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