Legalization of Bitcoin in the country

[Andrija Branislav]

September 7, 2021 El Salvador officially becomes the first country to legalize Bitcoin as a legal tender in its country Meanwhile, according to experts, it is assumed that the legalization of Bitcoin in El Salvador can trigger inflation in a country that has high levels of poverty and poverty, but if the price of BTC recovers towards $100K I think a lot of countries will praise it and it will get the world's attention. I would love to hear some of your opinions and views on this. Thank you.

[CaVO32]

We don't know what the future holds when it comes to crypto market in general. But if El Salvador is investing heavily on crypto specifically bitcoin, it means, they are seeing good future on this endeavor. We can't aim for $100k yet, but if situation permits, we may really see this price level in the years to come. It may not be this year, but possibly in the near future. As more and more stakeholders are getting involved and adoption is continuously growing, we are just hoping that the btc price will soon recover. And if that happens, El Salvador will be very glad on their decision, and for sure, other countries may follow their path.

[NeuroticFish]

September 7, 2021 El Salvador officially becomes the first country to legalize Bitcoin as a legal tender in its country Meanwhile, according to experts, it is assumed that the legalization of Bitcoin in El Salvador can trigger inflation in a country that has high levels of poverty and poverty, but if the price of BTC recovers towards $100K I think a lot of countries will praise it and it will get the world's attention. I would love to hear some of your opinions and views on this. Thank you.

Bukele's government must survive the crypto winter first. If that doesn't happen, El Salvador may have no bitcoin when the next bull run starts.
Then Bitcoin price has to get to 100k, which I do hope/expect, but there's no actual guarantee that it will happen, or there's no guarantee it'll happen in our lifetime.

Then, bitcoin is just a coin. While a great increase of its price will make El Salvador treasury look good, while it will make happy those El Salvadorians who kept bitcoin instead of automatically convert to dollars, it's still just a coin. That cannot make the economy of a country become great by itself. Good laws, good infrastructure, great education and many other things are needed.

[Apocollapse]

Actually I'm sad to see people view the successful of Bitcoin because of how high the price it and doesn't look at the real utility inside Bitcoin since the beginning when Bitcoin is still worth less a cent or worthless!

Bitcoin was created because of decentralized currency which can be used without linking or having a permission with centralized party, no one can block Bitcoin if you're using decentralized exchange.

Honestly, El Salvador isn't a only one country which accept Bitcoin as legal tender, the another country is Central African Republic that recently did too. IMO many people and government already know what is Bitcoin, but government mostly want to shutdown/attack Bitcoin since it will harm their own centralized coin aka CBDC.