Famous crypto whale says El Salvador is the first stone of dominoes and then more countries will adopt Bitcoin (BTC)
The famous crypto whale says that El Salvador is the first stone of the domino and then more countries will adopt Bitcoin (BTC).
In a new episode of Bitcoin whale Delta-Fi, known as Crypto Messiah, he stated that El Salvador will not be the only country that legally accepts Bitcoin .
“El Salvador may be the first domino among many disenfranchised nations and countries seeking to reduce their reliance on the US dollar. These countries suddenly said, “We want to move forward with Bitcoin. We want to move forward with a cryptocurrency that cannot be controlled and manipulated in my country .”
This is interesting because the IMF will be meeting with the president of El Salvador soon, and there’s no way they’ll be happy about it. On the positive side, this can be a movement heard around the world. I understand that El Salvador’s GDP (gross domestic product) is roughly the same as the market cap of Dogecoin (DOGE), but at the same time, many other disenfranchised countries are following suit.”
While the cryptocurrency expert is optimistic about El Salvador’s Bitcoin-friendly approach, he suggests that current power structures are likely to have something to say about it.
“This can have a number of disadvantages. I wonder what will happen when a US dollar-dependent country adopts a currency that rivals the US dollar. Will the IMF and major central banks allow it? Will they allow these nations to move forward and prosper in the future? Or will they come and mess things up?”
Following the Central American country’s leading crypto-asset adoption, IMF spokesperson Gerry Rice stated in a press briefing that they are closely monitoring El Salvador with some concerns regarding Bitcoin policies.