Bitcoin faces biggest test as El Salvador makes it legal tender

A Bitcoin logo is seen outside at Sevilla Barber Shop where Bitcoin is accepted as a payment method in Santa Tecla, El Salvador. — Reuters

Bitcoin is undergoing the biggest test in its 12-year history as El Salvador becomes the first country to adopt it as legal tender on Sept 7.

Both enthusiasts and detractors of crytocurrencies will be monitoring the experiment to see if a significant number of people want to transact with Bitcoin when it circulates alongside the US dollar, and whether it brings any benefits to the violent, impoverished Central American nation.