Bitmex CEO: Bitcoin as Legal Tender in 5 Countries by End 2022
Alex Hoeptner, crypto exchange Bitmex CEO, stated that by the end of 2022 at least 5 countries will recognize Bitcoin as a legal tender and will adopt it in their everyday life. The first example was El Salvador, which made the start a month ago.
Hoeptner stated that the countries will be from the emerging world for 2 simple reasons:
- Remittances: The remittances are a crucial factor in receiving income for emerging countries and Bitcoin can reduce fees in this sector.
- Inflation: Countries with low living standards and irregular monetary policy are falling the hyper-inflation trap. Bitcoin, from its nature, have created a no-loss value system to ease those situations.
We expect to see what will be the next country that will dare to do something like that…