Global Macro Investor founder Raoul Pal said that it would be difficult to implement a volatile asset as a national currency.

Armstrong’s suggestion may be based on El Salvador, another Latin American country, recognizing BTC as a legal tender back in 2021. The move brought various benefits to the country, such as a surge in tourism in 2022, with 1.1 million people visiting the country. In addition, El Salvador was able to build schools and a veterinary hospital using profits from its Bitcoin purchases.

Crypto as Legal Tender

    This is where the world is heading - it is up to us that it is as private, secure and cost effective as one friend handing a dollar bill to another friend.

    WARNING: Investing in NFTs, cryptocurrencies and other Initial Coin Offerings (“ICOs”) is highly risky and speculative, and these links and discussions are not recommendations by Exploding Heads or the writer to invest in NFTs, cryptocurrencies or other ICOs.

    Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Exploding Heads makes no representations or warranties as to the accuracy or timeliness of the information contained herein.

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