Zimbabwe Could Adopt Bitcoin As Legal Tender Following El Salvador

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	21,597,691,759	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

21,597,691,759

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00576	3.94%	0.15181	0.15183	0.15184

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00576

3.94%

0.15181

0.15183

0.15184

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.15287	0.14595	0.14622	0.14605	0.055475 - 0.228990

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.15287

0.14595

0.14622

0.14605

0.055475 - 0.228990

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	10:58:07	6,357.00	0.15181	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

10:58:07

6,357.00

0.15181

USD

Price x Volume	Volume	Base Symbol	Related Pairs
32,755,425.68	218,149,213.41	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

32,755,425.68

218,149,213.41

Zimbabwe Could Adopt Bitcoin As Legal Tender Following El Salvador

15/11/2021 4:00pm

NEWSBTC

The adoption of Bitcoin by El Salvador has opened the door for more adoption. However, the first country to achieve it didn’t find it easy. There were lots of doubts and criticisms targeting El Salvadorian President Nayib Bukele. Some people stated that he influenced the legislature to approve the move. Other critical financial analysts even predicted a negative influence on the country’s economic situation following his actions. The country has completed the move and is now using Bitcoin for financial transactions. Also, the President keeps accumulating BTC whenever there is a dip in price. Related Reading | AMC Theatres Says Customers Will Soon Be Able To Pay With Shiba Inu The second country that might take such a bold move is Zimbabwe. They are researching the growth and risks associated with cryptocurrency as an asset. Will Zimbabwe Become The Next El Salvador? For now, the country is looking into the demand rate amongst the citizens. Also, they support the regulations that financial watchdogs have been insisting on for some time now. Moreover, Zimbabwe sees crypto as a way to develop the country more. Related Reading | Shiba Inu Beats Out Cardano, Dogecoin On Top 10 Watch-Listed Tokens Now that many citizens are demanding crypto, the government is considering the option seriously. They disclosed this information through one of their local news outlets. The news also disclosed that the country is already discussing using Bitcoin as a legal tender – the Perm Sec Brig. Colonel Charles Wekwete confirmed this information. He also declared that the blockchain offers both positives and negatives. The negatives he stressed were money laundering, illegal cross-border transfers, facilitating unlawful actions with unlawful cash flows, etc. However, due to these risks associated with the blockchain, many authorities are poised to develop regulations that can curb them. Also, the rules will protect consumers’ interests and protect Zimbabwe’s financial future. For now, the country hasn’t declared anything yet. They are simply consulting experts to know if the move will work. But the government is following National Development Strategy 1, which teaches the digital economic system. The strategy will foster a connection between the existing businesses and the government to develop the digital economy jointly. El Salvador Set The Pace For Bitcoin Since Nayib took the bold step amid criticisms, other countries have considered Bitcoin usage in their economy. Many negative comments concerning the move, and some are still ongoing. However, the first country to adopt Bitcoin seems not to be backing down at all. BTC price getting ready for a bull run | Source: BTCUSD on TradingView.com In recent news, the President is even disclosing plans of building a hospital and 20 schools using their Bitcoin earnings. With all these, players in the industry view Africa as a good ground for testing cryptocurrency. Moreover, the crypto market in Africa keeps growing, according to blockchain firm Chainalysis. Featured image by BBC, Chart from TradingView.com

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