Edward Snowden says that competing nations are now under pressure to acquire Bitcoin to El Salvador - News Bitcoin News
Edward Snowden says that competing nations are now under pressure to acquire Bitcoin to El Salvador - News Bitcoin News
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After El Salvador Bitcoin has made a legal means of payment, the data protection activist and whistleblower Edward Snowden says: "There is now pressure on competing nations to acquire Bitcoin - if only as a reserve". He warned: "Sagging can regret hesitation."
Edward Snowden warns countries that the acceptance of Bitcoin could regret their decisions
The former computer intelligence consultant of the National Security Agency (NSA) and contractor of the Central Intelligence Agency (CIA), Edward Snowden, said that El Salvador Bitcoin made a legal means of payment on Tuesday. He tweeted:
Today, Bitcoin was officially recognized as a legal means of payment in his first country. Beyond the headlines, there is now pressure on competing nations to acquire Bitcoin - if only as a reserve - because its design offers a massive incentive for an early introduction. Stranglers can regret hesitation.
The Bitcoin law of El Salvador came into force on September 7th and btc is now next to the US dollar. Nayib Bukele, the President of El Salvador, also reveals Tuesday, Tuesday, that his government 550. bought btc .
Snowden is not the only one who expects other countries to step into the footsteps of El Salvador and introduce Bitcoin. Dante Mossi, the executive president of Central American Bank for Economic Integration ( cabei ), said that if the introduction of Bitcoin is going well as a legal means of payment in El Salvador and the costs for transfers drop considerably, "other countries are likely to search for and take it over".
Even the Bank of America sees advantages in the introduction of Bitcoin as a legal means of payment for El Salvador. "Bitcoin could be used as an intermediary for cross -border transfers ... The use of Bitcoin for transfers could potentially reduce the transaction costs compared to conventional transfer channels," says Bank wrote in early August. In addition, the global investment bank jpmorgan called in June that the step of El Salvador could be "the beginning of a wider trend under similarly located, smaller nations".
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