Gurbacs’s message to those countries is to follow the example set by El Salvador and consider adopting Bitcoin first as a reserve currency instead of the U.S. dollar, and then announce BTC to be legal tender. El Salvador did choose BTC as its official legal tender in 2021.
Now, Argentina intends to learn from El Salvador and adopt its Bitcoin experience. Recently, the securities regulator of Argentina (the National Securities Commission, NSC) has initiated a meeting with El Salvador’s National Commission of Digital Assets (CNAD). In this meeting, they discussed potential Bitcoin adoption and regulation in Argentina in the future and how this was performed in El Salvador.
He believes that these days, in 2024, not holding Bitcoin on a balance sheet is “irresponsible for nation states not to hold Bitcoin.”
According to recent reports by Whale Alert, the early Bitcoin trading platform has released the Bitcoin equivalent of $5.1 billion, presumably to further direct these funds to the creditors who suffered after the Mt. Gox hack that happened a decade ago.
Whale Alert spotted seven massive transactions carrying between 4,000 BTC and 34,138 BTC roughly three hours ago.
By now, Bitcoin has managed to recover 1.26% as it is changing hands at $68,446.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
