After El Salvador, These Countries Could Make Bitcoin Legal Tender Next

Vinod Dsouza
Bitcoin BTC
Source: Pexels

Only two countries in the world have made Bitcoin legal tender. El Salvador was the first country to make BTC official after its President Nayib Bukele announced in 2021 that it can be used for transactions. The government had also purchased 410 Bitcoins for $15 million during the dip last year. Just last month, the Central African Republic made Bitcoin official and passed legislation to make it legal tender.

Nigel Green, the CEO of deVere Group, a financial advisory firm, had predicted that El Salvador and the Central African Republic would accept Bitcoin as legal tender in his previous blog. In his recent blog, Green followed up on his previous prediction after news broke out that the Central Africa Republic will accept Bitcoin.

“In January, I predicted that at least another three nations… would declare the world’s largest cryptocurrency legal tender in 2022. One now already has done so,” he wrote referring to the Central Africa Republic.

Which Countries Will Accept Bitcoin Next?

Nigel Green predicted in his new blog that he expects one African country and one central or Latin American country to adopt Bitcoin next.

“I expect Bitcoin will be adopted as legal tender in at least one more African and one Central or Latin American country before the end of the year,” he wrote.

Green predicted that Tanzania could be the next country to likely adopt Bitcoin as legal tender in Africa. Coming to central or Latin America, he predicted that Paraguay or Mexico is likely to adopt Bitcoin as legal tender.

“In Latin and Central America, it could potentially be Paraguay or Mexico next,” predicted Green.

Green claims that all these countries are likely to announce accepting Bitcoin by the end of 2022. He stated that these countries might adopt BTC as they have a track record of financial instability.

“Adopting cryptocurrency currently is more attractive to those countries with a track record of financial instability.”

Green is confident that many other countries will eventually follow suit in the coming years. “First, El Salvador, now the Central African Republic – and this is just the beginning,” he concluded.