Marathon Digital Holdings Inc MARA and Riot Blockchain Inc RIOT are trading higher Wednesday as the price of Bitcoin BTC/USD recovers from its recent lows.
What Happened: El Salvador lawmakers voted in favor of a Bitcoin law allowing the Central American country to adopt the cryptocurrency as a legal tender.
Items can now be priced in Bitcoin, tax contributions can be paid using the popular cryptocurrency and exchanges in Bitcoin will not be subject to a capital gains tax.
El Salvador is the first country to adopt Bitcoin as legal tender.
Nayib Bukele, president of El Salvador, took to Twitter to celebrate the historic moment.
Price Action: At last check Wednesday, Bitcoin was up 8.31% at $36,431.
Marathon Digital was up 7.74% at $25.47, while Riot Blockchain was up 10.10% at $30.88, at last check Wednesday.
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