In a recent episode of crypto-focused show “Delta-Fi” by Hxro Labs, the pseudo-anonymous (“Crypto Messiah”) said that he expected several other countries to follow El Salvador’s lead and make Bitcoin legal tender.
As reported by The Daily Hodl, he said:
“It’s the first domino in a string of many disenfranchised nations and then maybe, other countries that are looking to reduce their reliance on US dollars. Coming in and saying like ‘Hey we want to go with Bitcoin. We want to go with a currency for our country that can’t be manipulated, that can’t be controlled’…
“It is kind of an interesting situation because I hear that the IMF (International Monetary Fund) is meeting with the president of El Salvador soon and there’s no way they’re going to be happy about that. So on the positive side of things, this could be like the shot heard around the world. I understand that the GDP (gross domestic product) of El Salvador is pretty much the same as the market cap of Dogecoin (DOGE), but at the same time, the fact that this has happened is huge and several other nations that have been disenfranchised are following suit…
“Now the downside of that, that I’m thinking of at least, a lot of these countries are US dollar reliant, and I am curious if the fact that they are trying to introduce a competing currency to the US dollar if that is going to have negative implications at some point. Is the IMF, are these big world central banks, are they going to allow this to happen? Are they going to allow these nations to push forward into the future and find prosperity or are they going to come in and f**k things up?“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.