![]() The country’s journey – its initial vision, execution hiccups, and economic rollercoaster ride – offers both cautionary tales and potentially transformative lessons for the global community. BTC also hasn’t had a full bull market since El Salvador passed The Bitcoin Law, so the benefits may only multiply. ![]() It likely comes down to how the strategy is executed.Įl Salvador’s bitcoin experiment is undoubtedly a fascinating case study in the governmental adoption of cryptocurrency. It’s possible that integrating a blockchain-based currency like a CBDC or a cryptocurrency like bitcoin could be inordinately helpful to the economies of many countries, especially those dependent on remittances. Nevertheless, bitcoin’s potential in reducing remittance costs and increasing financial inclusion, particularly in developing nations, is an avenue worth further exploration. A government’s financial health could tumble along with Bitcoin’s price, as El Salvador’s case illustrates.
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