Sunday, July 21, 2024

More Countries Will Make BTC Legal Tender: El Salvador President.

The El Salvador president Nayib Bukele, who considers himself to be the flag bearer of bitcoin, believes two more countries will adopt BTC as legal tender this year. In 2021, Bukele took the world head-on when he declared El Salvador as the first country to make bitcoin a legal tender.

His announcement shook the International Monetary Fund, World Bank and the United States, as well as world leaders alike. It caused concerns and excitement and somewhat made the Central American country a “pilot project” for the usage of the world’s most popular cryptocurrency as a legal tender.

Not to be brushed off easily, Bukele has embarked on a controversial and brittle path with a strong determination and confidence. Milena Mayorga, El Salvador’s ambassador to the United States, said if it proves successful, other countries will definitely take up bitcoin.

President Bukele predicts that 2022 will be a golden year for the crypto market. He highlighted that BTC will become a major electoral issue in the US. And it will be seen as a follow-up of the much-heated discussions that dominated the superpower in 2021. There are lawmakers such as Cynthia Lummis, Andrew Yang and Warren Davidson who support cryptocurrencies.

The El Salvador leader said the construction of Bitcoin City, inspired by the legendary cities built by Alexander the Great, will commence. Bukele had earlier said that the city would be built close to the Conchagua volcano. The volcano’s geothermal energy would be a source of power for the bitcoin mining sector.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
RELATED ARTICLES

Most Popular