Bitmex CEO gives three reasons why five countries Bitcoin could legalize in 2022
Bitmex CEO gives three reasons why five countries Bitcoin could legalize in 2022
The decision of El Salvador to officially make Bitcoin as a legal means of payment within his borders triggered some controversy.
While some locals Your dissatisfaction, many prominent names as Michael Saylor praised "Exceptional" and "earth -shattering".
The world still has to find out whether this would be the beginning of a successful currency revolution or another attempt by a top political figure who aims to gain power and support.
In a recently blog entry , alexander Höptner-Chief Executive Officer of the cryptocurrency derivate exchange Bitmex-besides those who believe that this could be a very useful initiative.
The Executive said that he was not surprised that all those who lead the current financial system, such as the World Bank, Moody’s Investors Service and El Salvador, have attacked more energetically. "However, what the critics do not recognize is that developing countries like El Salvador are leading worldwide when introducing decentralized digital currencies and payments," added Höptner.
In addition, he predicted that at least five developing countries would follow this experiment in 2022. And here are the arguments.
transfers
A significant percentage of people who come from countries like El Salvador works abroad to send money to their relatives and thus enable them to have a better lifestyle at home. And while leading financial service companies "Rip off people" with high fees and slow transactions, Bitcoin "with its almost negligible fees and fast 24/7/365 transactions" could be the best solution for the problem.
This is not the first time that the CEO of Bitmex compares digital assets and traditional finances. In a recently interview to kryptokunstle Developments in the crypto area take place in a "much faster pace":
"What we have experienced in the traditional financial world in the past 30 years, happened in 2 years [in the crypto industry]."
inflation
As the next reason, Höptner named the risk of increasing inflation after the consequences of the Covid 19 pandemic. It goes without saying that developing countries have a lot more to struggle than advanced economies. And when inflation shakes the financial network, people usually look for alternatives to Fiat currencies like Bitcoin. As proof of this statement, the Bitmex CEO pointed out Turkey:
"When inflation climbed over 15 percent in Turkey this year, the acceptance of crypto rose. Turkey reacted with a quick ban on the use of crypto for goods and services, but inflation is now 19.25 percent."
Many other prominent names were behind the idea that the primary cryptocurrency could be successful protection against economic crises. Milliarch Paul Tudor Jones III and
Although Höptner was a supporter of such an initiative, Höptner warned that top politicians could not increase their popularity because of their work, but because of Bitcoin: "This is not a love letter to President Bukele von El Salvador, who relies on his political future for the successful introduction of this policy. Of course, I support politics, but I think there is a long-term risk of giving individuals in the crypto room too much recognition." Afterwards, if a politician who plays a significant role in the introduction of BTC, fails as a leading company, this could automatically harm the image of the leading digital asset. .