Bitcoin shakes money supply in Central America and Africa (op-e-ED)
Bitcoin shakes money supply in Central America and Africa (op-e-ED)
The efforts to expand the development and introduction of Bitcoin in Africa and Central America continue.
The market looks pretty satisfied with BTC after the failure of the Silicon Valley Bank and others with crypto engagement. After shocking customers, markets and supervisory authorities at the beginning of the last month, their effects on the market value of BTC seem to be priced in the dynamics.
While the crypto yield system crashes and Bank Runs could not keep the Bitcoin price low, it drives it up a little. This is industry development and user acceptance that takes place all over the world. Two of the most promising regions for crypto growth are Africa and Central America.
in Africa, where there are some of the poorest countries in the world, around 50 % of the residents have no bank details today. This means that you never had a checking account, a credit card or access to banking services, and Bitcoin fixes this in many ways.
growth in Africa and Central America, Bitcoin tailwind
Andrew Lickenauth, author of the popular investor newsletter "Fluent in Finance", recently written , "Many African countries experience a high level of inflation, which makes Bitcoin a more stable value-plative." It advertises for the BTC payment platform with a low bandwidth and low fees of Lightening Network as a gamuchang for Africa:
"The Lightning Network is a Layer 2 scaling solution for Bitcoin that can help make Bitcoin more accessible and affordable in Africa. The Lightning Network enables users to send and receive Bitcoin payments quickly and cheaply, even with a weak internet connection."
LOKENauth also reports that Lightning Network developers in Africa are working on opportunities to expand the BTC L2 there. For example, Kgotlasso Ngako has built an app in South Africa that enables users to send BTC via SMS without sending the Internet.
The size of the market and the acceleration of its growth are incredible. Operating data from mobile phone networks show that money transactions sent via mobile phones in Africa rose by 39 % to $ 700 billion in 2021.
cryptocurrency also prevails in Central America. At the beginning of March, a leading Latin American travel agency and Binance Pay merged to enable crypto payments for travelers.
In the meantime, the government of President Nayib Bukele in El Salvador has cited cryptoskeptic no. The government recently demonstrated its financial strength with the repayment of one of two outstanding $ 800 million bonds.conclusion: these are bullish factors for BTC
The Spot Prize from Bitcoin had barely increased over $ 17,000 for months at the beginning of the last quarter. On the way to the second quarter, it appears from the coarsest after the long crypto winter. In fact, due to the price dynamics in the last month, analysts are now wondering when BTC will increase again over $ 30,000.
Bitcoin continues to defend his obituarator and eludes the exaggeration of US regulation. The price shows strength and upward trends, since BTC has a large, diverse and carefully invested group of important interest groups. They also drive development and acceptance in the first world and in developing countries in 2023.
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