deVere Group CEO Says 3 Nations Will Adopt Bitcoin in 2022

deVere Group CEO Says 3 Nations Will Adopt Bitcoin in 2022

The Central American nation El Salvador made history last year as the first-ever country to officially recognize Bitcoin as a legal tender. Many experts are now starting to predict that more nations are likely to follow suit in 2022, including the CEO of the deVere Group, Nigel Green.

More Countries Might Legalize Bitcoin in 2023

Green recently predicted that three more countries are likely to adopt the leading cryptocurrency as a legal tender this year, following the lead of El Salvador, which has since turned into a crypto-friendly jurisdiction. His statement comes after the president of El Salvador made a similar comment.

“I’m confident that the young, maverick President, Nayib Bukele, is correct about other countries adopting Bitcoin as legal tender in 2022,” Green said. “But I would go further still than he did. I believe that it’s likely that three more nations will follow El Salvador’s pioneering, future-focused lead into the digital age.”

In line with Green’s words, countries with weaker currency could make up the list. Being deeply reliant on major currencies like the US dollars can weigh on emerging-market economic prospects for some developing countries. However, adopting Bitcoin grants these countries a currency that isn’t controlled or influenced by market conditions within and outside their own economy. 

Which Countries Goes Next?

Reports indicate that Panama could be the second country to adopt Bitcoin as a legal tender. Just after El Salvador officially adopted the cryptocurrency, the Panamanian government introduced a bill to make Bitcoin the national currency. In the bill titled “Crypto Law: Making Panama Compatible with the digital economy, blockchain, crypto assets, and the internet,” Congressman Gabriel Silva said the development could create more investment opportunities and jobs for the locals. 

The Ukrainian government had also shown interest in the largest cryptocurrency. The nation has a plan to legalize Bitcoin as a legal tender by 2023, according to Professor Vyacheslav Evgenyev. 

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