El Salvador Passes Bill To Make Bitcoin Legal Tender – June 9

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $34,988

Bitcoin price action has turned positive as it gains legal tender-status in a country for the first time in history, briefly breaking back above the $35,000 mark

Top-20 altcoins have steadied on the news, as Ethereum rises less than 2%, XRP gains 1% and Solana leads the way with an 18% gain..

Top Stories for June 9, 2021 πŸ”₯

πŸ‘‰ El Salvador Passes Bill To Make Bitcoin Legal Tender

El Salvador has officially become the first country in the world to classify Bitcoin as legal tender, following supermajority approval by Salvadoran Congress.

Businesses in the country will now legally have to accept Bitcoin for goods and services, unless it is unable to provide the technology to process the transaction. The official enactment date of the bill is in 90 days.

πŸ‘‰ MicroStrategy Raises $1.6 Billion In Offering

MicroStrategy has already managed to raise $1.6 billion in its convertible note offering, just days after announcing that it was seeking another $400 million in funding.

The funds – four times the original goal – are intended to be used to purchase more Bitcoin, adding to the company’s BTC reserves which are already valued at $3.2 billion.

πŸ‘‰ Solana Labs Receives $314M In Private Token Sale Round

Solana Labs have raised more than $314 million from Andreessen Horowitz (a16z), Polychain Capital and others for further development of the Solana blockchain.

It was announced earlier this week that Solana’s developers were seeking additional funding, aiming for between $300 and $450 million.