“We as an industry win. Now we are just working out the details of what it means, ”said the IOG CEO. Charles Hoskinson. He discussed El Salvador’s adoption of Bitcoin as legal tender, in a recent video, titled “Congratulations Bitcoin.”
Congratulations Bitcoin https://t.co/P9NHO01mMi
– Charles Hoskinson (@IOHK_Charles) September 7, 2021
Hoskinson opined that crypto tokens like Bitcoin represent the “future of money.” Now, “most people under the age of 25 have a positive view of cryptocurrencies, and many of them own them. That is the future. Your children will grow up with those values and those beliefs about the nature of money, ”he said.
The crypto industry certainly saw some major changes and according to Hoskinson, this was a “great moment for our entire industry, regardless of whether you live in or outside the BTC sphere.”
Additionally, Hoskinson predicted that other nations could follow in El Salvador’s footsteps in the future. He stated,
“In the coming years, many more nation-states will use cryptocurrencies as part of their monetary policy, either as reserves in their central banks or using cryptocurrency rails for central bank settlements. Or just simply take a cryptocurrency like El Salvador has done and convert it into the national currency. “
In addition, he stressed the importance of this development. He said that
“… legitimizes the belief that we should be in control of the money in our pockets and, ultimately, we should be in control of how that money moves and who receives it.”
Other followers also added their views. For example, Edward Snowden, a former National Security Agency agent tweeted,
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, if only as a reserve asset, as its design greatly incentivizes early adoption.
Newcomers may regret having hesitated https://t.co/mggfDk4v9z
– Edward Snowden (@Snowden) September 7, 2021
Having said that, the largest crypto token did not rise as expected. At press time, BTC was trading just above the $ 46.5k mark, having witnessed a 9% price correction in 24 hours.
This is a machine translation of our English version.