Five Countries Make Bitcoin Legal Tender By End Of 2022


  • “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 them will be developing countries,” the BitMEX CEO wrote.
  • High inflation rates, hefty remittance fees, and political incentives might spur developing countries to follow El Salvador’s steps and adopt BTC as a legal tender next year.
  • In Alexander Höptner’s opinion, mainstream media criticism of the Central American country’s Bitcoin law is unfair.

The recent move by El Salvador to make bitcoin a legal tender alongside the dollar spurred some criticism worldwide, but mainly among mainstream media, such as the Financial Times and Wall Street Journal, and renowned financial institutions, including the International Monetary Fund (IMF) and the World Bank.

Alexander Höptner, the CEO of bitcoin exchange BitMEX, explained in a blog post on October 6 that the immediate backlash sparked by the Bitcoin law in the Central American country reflects the opinion of those who benefit from the status quo.

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