El Salvador could be just the start for the recover of Bitcoin

El Salvador Bitcoin Nayib Bukele

The establishment of Bitcoin as legal tender in El Salvador could be just the beginning of the acceptance of BTC by governments.

Cryptocurrencies have come a long way in recent years. Going from being objects of worship, rejected by governments and companies around the world, to become one of the most sought-after financial assets in all markets. However, although companies and individuals are already getting used to Bitcoin, most governments are still reluctant to this technology. Therefore, El Salvador could be just the beginning for Bitcoin, as Changpeng Zhao suggests in the Tweet of the day.

El Salvador opens the doors to Bitcoin

Blockchain technology has long since ceased to be controversial. And it is that, blockchains, have been accepted by practically all governments and companies, as a disruptive technology that can be used for their own purposes. Therefore, today public and private projects are developed that make use of the Blockchain.

However, accepting the Blockchain does not mean accepting Bitcoin. On the contrary, the intention in many cases of governments and companies is to use blockchains to be able to displace cryptocurrencies. Eliminating the threat posed to them by a decentralized virtual currency such as BTC and other crypto assets currently on the market.

This is not the vision of the President of El Salvador, Nayib Bukele. Who recently reported that he would push a law for Bitcoin to become a legal tender in his country. Which would force merchants to accept BTC as payment for their goods and services. Thus becoming the first country in the world to take this step, but not the last according to Changpeng Zhao. Who suggests buying Bitcoin before other countries follow the course of El Salvador:

Wait nations begin to deposit #Bitcoin in his treasures. Or better not wait?”

In this way, Changpeng Zhao suggests that El Salvador could be just the beginning of a trend that leads to the acceptance of Bitcoin by governments around the world. What, if it happens, would bring the definitive consolidation of the cryptoactive, and of course a significant increase in its price.