Logo
Cardano Ecosystem

Ethers News

09/08/2021

·

1K views


More countries to follow El Salvador’s Bitcoin move, Cardano creator says

El Salvador’s Bitcoin acceptance is a major win for the cryptocurrency industry, Cardano founder Charles Hoskinson believes. Following El Salvador’s historic adoption of Bitcoin (BTC) as legal tender on Tuesday, Cardano founder Charles Hoskinson predicted that a lot more...

More countries to follow El Salvador’s Bitcoin move, Cardano creator says

El Salvador’s Bitcoin acceptance is a major win for the cryptocurrency industry, Cardano founder Charles Hoskinson believes.

Following El Salvador’s historic adoption of Bitcoin (BTC) as legal tender on Tuesday, Cardano founder Charles Hoskinson predicted that a lot more countries will eventually follow in the Latin American nation’s footsteps.

El Salvador’s Bitcoin acceptance further legitimizes the belief that people should be in control of their money, Hoskinson said in his “Congratulations Bitcoin” YouTube video on Tuesday.

The Cardano founder expressed confidence that cryptocurrencies like Bitcoin are the future of money as the younger generation will inevitably trigger mass adoption of crypto. “The majority of people under the age of 25 have a positive view on cryptocurrencies, and a lot of them own them. That’s the future. Their children will grow up with those values and those beliefs about the nature of money,” he said.

Hoskinson further predicted that more countries all over the world will move into the cryptocurrency industry by accepting crypto as part of diverse government structures, stating:

“In the coming years, many more nation-states will use crypto as part of their monetary policy, either as reserves in their central banks or using cryptocurrency rails for central bank settlements, or potentially just simply taking a cryptocurrency — as El Salvador has done — and make it the national currency.”

Related: Republic of Panama introduces bill for regulating crypto

Hoskinson is not alone in thinking that El Salvador’s Bitcoin adoption will eventually push more countries to dive into crypto:

Today Bitcoin was formally recognized as legal tender in its first country.

Beyond the headlines, there is now pressure on competing nations to acquire Bitcoin—even if only as a reserve asset—as its design massively incentivizes early adoption.

Latecomers may regret hesitating https://t.co/mggfDk4v9z

— Edward Snowden (@Snowden) September 7, 2021

On Tuesday, Sept. 7, El Salvador officially became the first country in the world to accept Bitcoin as the official currency, requiring all local merchants to accept Bitcoin as a means of payment. Bitcoin subsequently experienced a major flash crash, with its price plummeting from around $52,000 to as low as under $43,000 on Tuesday.

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on Ethers News

ORIGINAL SOURCE

https://ethers.news/more-countries-to-fo...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from Ethers News

See more
Cardano Founder Proposes Blockchain Solution To Elon Musk - Ethers News
Ethers News
Cardano Founder Proposes Blockchain Solution To Elon Musk - Ethers News

07/17/2024

·

348 views

Related News

See more
Voting for Us - Catalyst Fund 14

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)