Charles Hoskinson Predicts Bitcoin Will Be Recognised by Other Countries Following El Salvador

Other countries will follow El Salvador’s example and legalise Bitcoin. This view was expressed by Charles Hoskinson, founder and chief executive of IOHK, the company behind Cardano.

In his latest video, Hoskinson called the law taking effect recognizing the first cryptocurrency as legal tender in El Salvador a major win for the industry. He said this step reinforced his belief that people should control their money.

“Most people under 25 view digital assets positively. Many of them own them. This is the future. Their children will grow up with similar values and beliefs about the nature of money.”, said the founder of Cardano.

Hoskinson is convinced that El Salvador will not be a standalone case, and that governments of other countries will give Bitcoin the green light.

“In the coming years, many states will begin to use cryptocurrency as part of their monetary policy, either as part of central bank reserves, or for settlements with monetary regulators in other countries, or simply, as El Salvador did, make it their national currency.”, the CEO of IOHK opined.

According to Buybitcoinworldwide, the governments of Bulgaria and Ukraine bought 213,519 BTC and 46,531 BTC, respectively, as reserves. In total they hold about 1.237% of Bitcoin’s supply.

Edward Snowden, a former employee of АНБ and ЦРУ of the United States, said that other states may regret their hesitation.

“There is now pressure on other countries to buy Bitcoin, even if only as a reserve asset,” he stressed.

Today Bitcoin was formally recognized as legal tender in its first country.

Beyond the headlines, there is now pressure on competing nations to acquire Bitcoin—even if only as a reserve asset—as its design massively incentivizes early adoption.

Latecomers may regret hesitating https://t.co/mggfDk4v9z

— Edward Snowden (@Snowden) September 7, 2021

As noted, expressed similar views by Binance CEO Changpeng Zhao.

Earlier in Panama’s parliament, introduced a bill regulating the use of digital assets as a means of payment.

Previously, Argentine President Alberto Fernández did not rule out legalising Bitcoin.

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