El Salvador's President, Nayib Bukele, really kickstarted the interest of Bitcoin being adopted as legal tender. While the adoption has already taken place for El Salvador, other Latin American countries are also beginning to express their own interest in Bitcoin... and doing it publicly for the world to see. This newfound interest is seemingly fueled by inflation in the countries mentioned within this article. The constant reliance on the US dollar is in the sheer baby stages of phasing out from other countries of the world.
El Salvador is the first country to adopt Bitcoin as legal tender for their citizens on June 9, 2021. Not only is this beneficial for the citizens, but El Salvador now has the ability, as a country, to hold Bitcoin in their reserves and treating it as a world currency. In this article, we will be looking at politicians from other countries who are potentially following in Bukele's footsteps.
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Senator Indira Kempis de I. of Mexico has her official profile picture on her Twitter page, but with an added twist. Laser eyes are focused on Bitcoin (and kind of look like they are beaming directly into your soul... yikes!) and are lighting the path towards Bitcoin for Mexico. Indira Kempis assists the nation in introducing new legislature to benefit the government and citizens alike. This will be interesting to follow in the coming months to see what's in store for the people of Mexico!
Congressman Gabriel Silva of Panama did not hesitate to jump on board with Bitcoin following Bukele. Panama has been working towards building their nation into one of greater technological advancements for quite some time now. He states the following in the tweet shown above, "This is important. Panama can't be left behind. If we want to be a true technology and entrepreneurship hub, we have to support cryptocurrencies. We will be preparing a proposal to present at the Assembly. If you are interested in building it, you can contact me.".
Congressman Carlitos Rejala of Paraguay was actually the first Latin American politician outside of El Salvador to express interest in the adoption of Bitcoin for their nation. They are currently developing a bill to make Bitcoin legal tender in Paraguay by the end of July 2021. This will be presented to Congress by Rejala himself. Rejala also stated that the country would be able to, and should be able to, utilize their hydroelectric capabilities to mine Bitcoin.
Although the hype surrounding Bitcoin being adopted by nations around the world is still new, it's still something to be excited about. This was completely unheard of not even 1-2 years ago and now it's becoming worldwide front page news. Although only 3 other countries were listed in this article outside of El Salvador, this is still a huge step for Bitcoin and the crypto community/market as a whole.
The aforementioned politicians and countries with their plan of adoption are not concrete, so only time will tell if these countries (and others) actually adopt Bitcoin as legal tender for their nations. Until then, we keep our eyes peeled on other crypto related topics and news!
What country do you think will adopt Bitcoin next?
Let us know in the comments down below!
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