Bitcoin Moves From Bubble To Legal Tender
When I first heard about Bitcoin and the next thing I know was that the central bank says negative things about Bitcoin. There is a high risk and you can lose your money if you get involved in any cryptocurrency.
They paint a picture in your mind that Bitcoin is bad. Crypto is criminals' money. And bad people use it to commit crimes. You do not want to commit any crime, do you? If you get involved in crypto in any way, you are doing something that is harmful.
Being in an environment like this, you have to have an open mind to see and look into the bubble that's a level given to Bitcoin. Popular figures in the existing financial system say Bitcoin is nothing but a bubble that is going to burst soon. It is just speculation. If you hold Bitcoin, you are going to lose everything that you hold.
Nowadays, you may not see those people call out Bitcoin as a bubble. Instead, they are too busy saving their empire. They are going against their previous belief to invest in crypto. Crypto is here to stay and there is no way it will disappear.
Now Bitcoin is recognized as a legal tender. If that's a buddle, some countries will not make Bitcoin an official and legal tender. El Salvador is the first country that came forward to recognize Bitcoin as a legal tender. By the way, El Salvador is not the last country that takes this brave step, the Central African Republic (CAR) is the second country to accept Bitcoin as a legal tender.
It is assumed that Fiji and Tonga will follow in the footstep of El Salvador and the Central African Republic (CAR). We will see more countries that will announce and make Bitcoin their legal tender.
Even countries that don't like to make Bitcoin a legal tender will be happy to recognize BTC as an alternative investment. Seeing the adoption and the way everything moves forward, there is no turning back. What crypto can offer in terms of freedom, security, and control, people will not get that anywhere.
Bitcoin fundamental does not change. Bitcoin was not a bubble and Bitcoin will not be a bubble. Now those so-called experts may not make fun of themselves anymore saying Bitcoin is a bubble.
So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
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I just don't know if I like BTC being legal tender or not due to the deflationary tokenomics. I don't think it's a good choice but at the same time, I want it to succeed because it's representing crypto on the bigger stage.
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Bitcoin is the hardest asset. The more people realize that, the more people will adopt Bitcoin in their life.
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I think that the process of Bitcoin adoption is irreversible... There are more and more people from "their side" (bankers, influential rich people) and there is not as much "shit talk" about it as it was before... There is, but a lot less...
IMO, we will see more and more countries accepting BTC in the near future... Especially when the next bull run comes...
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It would be interesting to see when Bitcoin critics and banks run into Bitcoin for sustaining their existence. People will adopt crypto and the rate of crypto adoption will keep rising.
Thank you for selecting this post.
Happy New year, @ph1102!
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