following El Salvador historically adopts Bitcoin (BitcoinAs the legal tender on Tuesday, Cardano founder Charles Hoskinson predicts that eventually more countries will follow in the Latin American country’s footsteps.
El Salvador’s acceptance of Bitcoin further legitimizes the belief that people should control their money, Hoskinson Said In his “Congratulations to Bitcoin” YouTube video on September 7.
The founder of Cardano expressed his belief that cryptocurrencies like Bitcoin are the future of money, because the younger generation will inevitably trigger the mass adoption of cryptocurrencies. “Most people under the age of 25 have a positive attitude towards cryptocurrencies, and many of them own cryptocurrencies. This is the future. Their children will grow up in these values and beliefs about the nature of money.” He said.
Hoskinson further predicted that by accepting encryption as part of a diversified government structure, more countries in the world will enter the cryptocurrency industry, noting:
“In the next few years, more nation-states will use cryptocurrency as part of their monetary policy, either as a reserve fund of their central bank, or use the cryptocurrency track for central bank settlement, or maybe just use cryptocurrency like El Salvador. , Making it a national currency.”
Hoskinson is not the only one who believes that the adoption of Bitcoin in El Salvador will eventually push more countries to invest in cryptocurrencies:
Today, Bitcoin is officially recognized as legal tender in its first country.
In addition to the headlines, competing countries are now under pressure to acquire Bitcoin-even as a reserve asset-because its design greatly incentivizes early adoption.
Latecomers may regret hesitation https://t.co/mggfDk4v9z
-Edward Snowden (@Snowden) September 7, 2021
On September 7, El Salvador officially became the first country in the world to accept Bitcoin as its official currency. Require all local merchants to accept Bitcoin As a means of payment.Bitcoin subsequently experienced a major flash crash, which Price plummeted from around US$52,000 to below US$43,000 Tuesday.