“For smaller countries, bitcoin is a superior solution to their own fiat currency in many ways,” -Matthew Le Merle, managing partner at Blockchain Coinvestors
BTC is the key to a corruption free economy for some countries, to others it is a beacon of prosperity and hope for all. BTC is the dawning of a financial revolution that is long overdue. Banks have disrupted main street, wrecked economies and reeked general havoc on society in the past two centuries completely unchecked. Now the chickens have come home to roost. Banks can no longer run a muck, and unchecked.
El Salvador has made BTC legal tender in the country in a world first. This is beyond huge for the crypto community, and the world. Bank of El Salvador will be the first central bank to hold crypto on the balance sheet, and his Bitcoin Law passing has opened El Salvador to massive investment potential. El Salvador taking this bold step, has inspired other Lain American countries to jump into the deep end so to speak. It is clear the crypto revolution is here to stay, and not fading away; just like the internet.
From Mexico to Argentina the map is filling up with more bitcoin/ crypto friendly economies. It will be very interesting and exciting to see where this trend will go. The question becomes; how far its popularity will extend? It is important to remember that bitcoin has been growing in popularity in Africa since its inception. I think it is very inspiring to see the developing world explode with crypto use. This will send a powerful message to the very centralized fiat loving entities, that the playing field has been leveled. The crypto revolution is here to stay. Every day these currencies exists fiat currency becomes less and less popular.
