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These Nations Are Eyeing To Make Bitcoin As Their Legal Tender Following El-Salvador

Elena R 2023.11.21 16:43

Crypto saw a new day when Pro-Bitcoin presidential candidate and a pro-Bitcoin enthusiasts Javier Milei won the Argentina presidential run-off election, beating his opponent Sergio Massa. Country’s love for Bitcoin is imminent with their choice.

Now the debate is whether Milei or LATAM nations will make a historic move to announce Bitcoin legal tender. Since all eyes are on Argentina right now there are other nations who may follow the suit. Let’s see why Max Keiser sees it as a golden period for Bitcoin. 

Milei’s win has garnered praise from notable figures in the crypto sphere, including Michael Saylor of MicroStrategy, Arthur Hayes of BitMEX, and Elon Musk.

Max Keiser, a Bitcoin advisor to El Salvador President Nayib Bukele, expressed intentions for a Bitcoin-focused visit to Argentina. Keiser proposed discussions with Milei to explore Bitcoin-related ambitions and invited the newly elected President to visit El Salvador for a dialogue on Bitcoin. 

Will He Stick to His Stance for Central Banks? 

Milei has openly lashed the country’s central bank, criticizing it as a tool for deceptive inflationary taxes. He sees Bitcoin as a means to reinstate financial power in the hands of the private sector, echoing sentiments similar to El Salvador’s adoption of Bitcoin as legal tender to combat inflation and establish financial autonomy from centralized authorities. This move potentially signals a significant shift towards nationwide Bitcoin adoption in Latin America.

El Salvador was the first to legalize crypto. A volcano-powered BTC mining plant is also planned by the government. By 2024, the country wants BTC education in schools. Although Milei is pro-BTC, the crypto’s future in the nation is unknown. Max Keiser expressed his wish to Milie to consider BTC a legal tender, but he also hinted that other nations may do so. Sounds like the vibration of a bull rally? 

The News Pumped Bitcoin By 3% 

Bitcoin surged over 3% to exceed $37,000 following Javier Milei’s win as Argentina’s new President. Milei secured over 55% of the votes, nearly 3 million ahead, prompting bullish projections from figures like Max Keiser, who predicted a potential rally toward $40,000. The increased trading volume post-election, now at $37,428, hints at a positive market sentiment, although Milei’s stance on Bitcoin’s legal adoption in Argentina remains uncertain. 

It will be interesting if LATAM joins the Bitcoin legal tender wagon and causes friction for the US SEC to consider it before others take over the greatest industry and startup confidence. What do you think?