Even though bitcoin is very well known in the crypto world, not all countries accept it. Some countries accept it and some don't. And it may not be easy for bitcoin to become the top currency. Because the US dollar remains the most important money in the world.
Now Bitcoin is starting to be adjusted by several countries for important matters such as payments as has been implemented by the
Saudi Arabian state at this time where they have started to make leeway rules on cryptocurrencies and Bitcoin for international trade matters. So Saudi Arabia has also decided to accept Bitcoin and cryptocurrencies as additional payment options besides US dollars and their own country's currency.
After 48 years of ties solely with the US dollar, Saudi Arabia's Minister of Finance, Mohammed Al-Jadaan, said the kingdom was open to trading in currencies other than the US dollar. The remarks follow Chinese President Xi Jinping urging Gulf monarchs to accept yuan for oil, and Riyadh officials saying in March the country would consider accepting Chinese currency. Saudi Arabia's Move Away from the US Dollar Signals a Changing Economic Landscape.
Source: news.bitcoin.comThe Kingdom of Saudi Arabia is a West Asian Islamic state with an area of over two million square kilometers and a population of 33 million people. Saudi Arabia has a petroleum-based command economy that generates one of the largest GDPs in the world, consistently being in the top 20 countries in terms of GDP. Legal bitcoin is Saudi Arabia. One can exchange and buy Bitcoins in Saudi Arabia.
However, Saudi Arabia's financial authorities issued a warning about Bitcoin trading and offered no protection for cryptocurrency-related losses. There are ATMs for Bitcoins in Saudi Arabia and maintain Bitcoin exchanges. The country's government is currently liberalizing its political and economic structure, making Saudi Arabia more hospitable to foreign investment and emerging startups.
Source: cointelegraph.com