Countries challenging the value of the first cryptocurrency will eventually be forced to consider buying it as a form of insurance. To such conclusions came Fidelity Digital Assets analysts.
In their opinion, from 2022, the period of acceptance of bitcoin by states will begin. In the previous two years, the development of a new asset class began institutional.
Experts compared China’s ban on the first cryptocurrency and El Salvador’s approval of it as legal tender.
“Time will certainly show which way is more successful”, the experts wrote.
Fidelity refused to believe in the scenario of an outright ban on digital gold by most countries, since in this case they would “lose a significant part of the wealth and opportunities.” Analysts are convinced that other countries will follow El Salvador’s example.
“Very high-stakes game theory comes into play here – if adoption increases, countries that receive bitcoin today will be in a better competitive position than those who delay. In other words, small costs can be paid today as a hedge against potentially much larger costs in the future.”experts explained.
In 2021 ex-MP Tonga Lord Fusitua discussed with Strike CEO Jack Mullers [помог Сальвадору в реализации кошелька Chivo] the technical side of the initiative and considered the idea of placing part of the country’s reserves for $ 750 million in bitcoin. Remittances to Tonga form 37% of GDP.
Tonga 🇹🇴 may be next nation to adopt #Bitcoin
Remittances also make up 37% of their GPDs. pic.twitter.com/mk1cxMC4Ul
— Documenting Bitcoin 📄 (@DocumentingBTC) June 9, 2021
Recall that the rating agency Moody’s criticized the purchase of bitcoin by the government of El Salvador.
Previously, a similar position was stated by experts from IMF.