Last week it finally happened. In El Salvador, Central America, a New encryption code In fact who ensured that Bitcoin (BTC) It became a legal tender. For the first time in history, cryptocurrencies were placed on the same base as fiat currencies in a country.
Several countries in the region are closely watching developments in El Salvador. In a number of South and Central American countries, lawmakers have already considered whether a similar law has support.
More countries will follow
According to Michael Sonninchin, CEO of Grayscale, it will be a matter of time before other countries follow in El Salvador’s footsteps. The CEO of a cryptocurrency investment company gives a Interview with Yahoo Finance He points out that he sees certain regions of the world taking this step first.
According to Sunenchen, emerging countries in particular where their economies are not yet as strong as in some Western countries are potential candidates. He argues that even if the governments in these countries don’t like bitcoin and other… Cryptocurrency Embracing, the population is increasingly realizing the benefits of cryptocurrencies.
According to Sonnenshein, it is precisely emerging countries where Bitcoin adoption may be accelerating:
“If we ask ourselves where the adoption rate is highest, it is in emerging countries. Places like Africa, Southeast Asia and parts of South America.”
He also sees developments in El Salvador as very positive for the country’s population. However, this same community has a different opinion on this at the moment. naturally 70% of Salvadorans see absolutely no benefit in the new crypto law and the vast majority have no interest in bitcoin or cryptocurrencies at all.
However, El Salvador could be, as it were, the first sheep to cross the dam. If the experiment in El Salvador goes well, it won’t be long before other countries follow suit. According to Sunenchin, these countries are in the first place where the economy is not in a good shape yet.
Avid music fanatic. Communicator. Social media expert. Award-winning bacon scholar. Alcohol fan.