Bitcoin Nation Game Theory – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

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El Salvador’s bold and groundbreaking move to declare bitcoin legal tender on June 8, 2021 has caught the attention of the world and the imagination of their Latin American neighbors.

As the 14th most populated country in Latin America and with a past filled with decades of corrupt leadership and violence, it is unlikely that El Salvador has been the object of envy for any Latin American countries in the past 30 years. However, that has suddenly changed with the success and innovation of their Ley Bitcoin (Bitcoin Law). The refreshing open mindedness of El Salvador’s President Nayib Bukele combined with the hard work and huge hearts of Mike Peterson (Bitcoin Beach), Jack Mallers (Strike) and Miles Suter (Square Crypto) has created some much needed hope for not only his people, but for millions in other Spanish-speaking nations.

In the wake of El Salvador’s historic bill, politicians from eight Latin American countries have publicly expressed their desire to pass similar laws in their respective countries. These policy makers are eager to act now for the benefit of their people and fearful that inaction will leave them behind in a world unkind to countries with slow-moving governments. One of the deciding factors of a nation’s world standing is the soundness of their money. Bitcoin, which is showing itself to be the soundest money in existence, will unlock countless benefits for the countries who become its earliest adopters on this scale. However, it remains to be seen which countries will benefit from joining El Salvador as the next nation to pass a bill recognizing bitcoin as legal tender.



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