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El Salvador officially became the very first country in the world to formally recognize Bitcoin as a legal tender, essentially making it illegal for anyone to refuse to accept BTC as payment. Speaking on the matter and congratulating the entire community, Charles Hoskinson said that he thinks many other nations will follow in these footsteps.
- In a recent YouTube video, Charles Hoskinson, the founder of Cardano, congratulated the entire community on Bitcoin’s acceptance as a legal tender in El Salvador.
- The cryptocurrency proponent talked at length about the journey our relatively nascent industry has gone through so far.
- He outlined that back, in the beginning, the community was a lot smaller, and not a lot of people were serious about it.
- Hoskinson also didn’t fail to mention that there wasn’t such tribalism and maximalism back then and that it was more of intellectual disputes and arguments.
- He reiterated what a tremendous achievement this is and that many others will follow through in the future.
In the coming years, many more nation-states will use crypto as part of their monetary policy, either as reserves in their central banks or using cryptocurrency rails for central bank settlements, or potentially just simply taking a cryptocurrency as El Salvador has done and make it the national currency.”
- Speaking as someone who’s been in the industry almost from the very beginning, Hoskinson said that the journey has been both “long” and “short” – paradoxically, as he puts it. Long – meaning that “each year felt like 10 years,” and short because it has only been 12 calendar years since Bitcoin’s inception.