- More countries from Latin America are likely to make Bitcoin a legal tender predicts Bitcoin maximalist Max Keiser.
- The U.S. State of Arizona has already put forward a bill that will make Bitcoin a legal tender.
Speculations have been ripe that more countries will proceed in making Bitcoin (BTC) a legal tender in 2022. Bitcoin evangelist and maximalist, Max Keiser has predicted that another Latin American country will make Bitcoin a legal tender in the first six months of 2022.
Keiser’s comments come during his recent interview with Kitco News. The Bitcoin maximalist says:
These are the heir countries, they are wealth extractors, they are the losers. I can understand that they are not in this first wave of adoption […] eventually someone will adopt it following the game theory.
I know for a fact that another country is going to adopt Bitcoin […] I know for a fact that a Latin American country is going to legalize Bitcoin as legal tender, I am very confident.
Keiser also noted that he has some evidence from internal sources who shall confirm this news very soon. Max Keiser has shown a strong belief in Bitcoin even before BTC witnessed some mainstream adoption over the last two years.
El Salvador’s Bitcoin (BTC) adoption will create a domino effect
Many market analysts believe that El Salvador’s Bitcoin adoption can soon trigger a domino effect with more countries joining. Countries like Tonga have shown signs that they could adopt El Salvador’s Bitcoin model very soon.
Keiser said that in the future, there will be more countries adopting the Bitcoin model. Keiser believes that there could be candidates majorly from South America whose economies aren’t in very good shape. This includes countries like Panama, Paraguay, Brazil, Venezuela, and Argentina. Keiser added:
They all have legislation ready to go. Expect announcements soon. A governor of Tonga estimates that by the end of 2022, they could approve Bitcoin as a legal tender currency.
The U.S. State of Arizona put forward a Bitcoin Bill
Over the last weekend, Wendy Rogers, the State Senator from Arizona has put forward a bill that seeks to make Bitcoin a legal tender in the country. This is the first-of-its-kind move from any U.S. Senator. Wendy said:
I am pleased to announce that I have been appointed to the Blockchain and Cryptocurrency Study Committee by Senate President @FannKfann. I am going to work to help make Arizona crypto-friendly #BTC #BNB #Crypto.
Several other U.S. senators and lawmakers from Texas, Wyoming, New York City, etc. have shown their affinity for Bitcoin. However, this is for the first time that a senator is proceeding to make Bitcoin a legal tender in the country.
But owing to the regulatory pressure, it is less likely that Congress would approve this bill. But if at all Arizona succeeds, it will be a massive shift in the Bitcoin narrative among lawmakers. Crypto analyst Lark Davis writes: “IF Arizona succeeds in making legal tender then it is a VERY big deal! It has around the same population as El Salvador, but it has more than 10X the GDP. PLUS the implications of BTC being legal tender in a US state would be HUGE! Don’t expect it to be easy”.