Why Developing Countries Are Looking to Adopt Crypto as Their Legal Tender
According to the World Bank, the number of people living in extreme poverty — on less than $1.90 per person per day — has been increasing in the past three years following the effects of COVID-19, rising global conflicts, climate change, and unchecked inflation. For almost 25 years, extreme poverty levels were steadily declining before […]
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By the end of next year, at least five countries will have accepted bitcoin as legal tender, the CEO of cryptocurrency exchange Bitmex has predicted. He cited three key reasons why he arrived at this conclusion. “Developing countries will jump into crypto in 2022,” he said.
More Countries Will Adopt Bitcoin as Legal Tender
The CEO of cryptocurrency exchange Bitmex, Alex Hoeptner, has predicted that developing countries will lead the way in bitcoin adoption. He detailed last week:
My prediction is that by the end of next year, we’ll have at least five....
The CEO of financial advisory and asset management firm Devere Group has predicted that three countries will adopt bitcoin as legal tender this year. He is more bullish than El Salvador’s president who predicted that two countries will make bitcoin their national currency.
3 Countries Will Adopt Bitcoin as Legal Tender in 2022, Devere’s CEO Predicts
The CEO of Devere Group, an independent financial advisory and asset management firm, predicted earlier this week that three more countries will adopt bitcoin as legal tender in 2022.
His prediction is more....
Developing economies are more affected by issues related to remittances and inflation, BitMEX’s CEO said. Countries in the developing world will soon follow in the steps of El Salvador and make Bitcoin (BTC) legal tender, BitMEX CEO Alexander Höptner recently predicted.In a Wednesday blog post, Höptner expressed support for El Salvador adopting Bitcoin as legal tender in September, predicting that developing countries will be “leading the way” in Bitcoin adoption:“My prediction is that by the end of next year, we’ll have at least five countries that accept Bitcoin as legal tender. All of....
Remittances, inflation, and politics will prompt at least five developing countries to accept BTC as legal tender by the end of 2022, says Alexander Höptner.
The African nation will reportedly join a short list of countries to adopt cryptocurrency as legal tender. The roughly five million residents of the Central African Republic, or CAR, will now reportedly be able to use Bitcoin in addition to the country's franc as legal tender. According to a Wednesday report from news outlet Agence France-Presse, Central African Republic President Faustin-Archange Touadéra has signed a bill into law establishing a regulatory framework for the use of cryptocurrency in the country as well as adopting Bitcoin (BTC) as legal tender. Obed Namsio, the....