Pro Bitcoin Economies success can pave the way for world adoption.
I guess everyone is waiting for the Bitcoin ETF news on whether it will be approved or not. Overall sentiments suggest that it is more likely to be approved. The recent price surge of Bitcoin is also attributed to Bitcoin ETF.
In my opinion, the passing of Bitcoin ETF can cause a further surge in the Bitcoin price but it cannot guarantee mass adoption. However, Bitcoin ETF can further increase awareness among people and help them to shed their inhibition to invest in Bitcoin. I guess Bitcoin ETF will give them a "convenient" way of owning Bitcoin without undergoing the hassles of maintaining keys and wallets.
In the current political scenario, El Salvador is already accepting Bitcoin as a legal tender and eyes are now on Argentina. Interestingly, whether or not Argentina accepts Bitcoin as legal tender, Bitcoin adoption in Argentina is much more than in El Salvador. Shutting down the Argentina Central Bank will be further helpful as it is anti-crypto.
El Salvador plan for building Bitcoin economy.
Until now, El Salvador purchased Bitcoins to build up its reserves but with its offering of "Volcano Bonds" and "Citizenship Program" it is exploring ways to earn Bitcoins. I guess this is one of the correct ways to develop Bitcoin or a crypto-economy where one earns Bitcoins and the other gets the way to spend Bitcoins. I hope the increase in this business model will be helpful and increase mass adoption.
Bitcoin Economies but not anti fiat.
In this modern world, picking up one side and ignoring the other side is not a feasible goal. So when we develop the ecosystem for Bitcoin and cryptocurrencies, it does not mean that there will be no fiat. I see both fiat and crypto will co-exist in the coming time.
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The ETF will make a more legitimate way for the average person to enter crypto. So I think it will pave the way towards adoption with everything else.
Hmm, from adoption I mean people doing transaction, not like buying and holding it.
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