How El Salvador is shaking up the world right now
In todays new blog we will be discussing el Salvador and what's been going on with the country recently. I'm also going to cover the effects of the recent events. This is a important blog post to read as the recent events have a huge impact on the world. Especially those who are in cryptocurrency market I also believe this is the start of a financial revolution. So make sure you read the rest of the post to understand why and what all this means. Now that I've made that clear lets now get into the rest of the blog post.
Whats going on in El Salvador
You might have heard from the news and media recently that el Salvador has officially now adopted bitcoin as its national currency. This now means if you live in or visit El Salvador you can use bitcoin to pay for anything you need. They no longer rely on a fiat currency as a national currency. Which is going to have a lot of effects on this countries economy no doubt. Weather it turns out good or bad time will only tell. But even more El Salvador has given all of its citizens 30 dollars worth of bitcoin at the time of the drop. But the recent news has caused the price of bitcoin to drop. Which leads us to our next topic.
How El Salvador is effecting cryptocurrency
With the news of the adoption of bitcoin hitting the media and getting out to the public along with the 30 dollar bitcoin airdrop all lead to a dip in all cryptocurrencies not just bitcoin. In an attempt to restart the bull run El Salvador bought even more bitcoin. The amount they had bought was an additional 150 Bitcoins. Only time will tell if they were actually successful in re igniting the bull run. But so far it's looking like the market is starting to stabilize again and we might head into yet again another bull run. But besides effecting the crypto world they are also effecting the real world. Which leads us to the next topic of discussion.
How El Salvador is effecting the world
The recent news events have had a tremendous effect on the world today. Especially in the world of finances and economics. I think that the biggest effect the recent news and events have had were on fiat currencies Especially the U.S dollar. If El Salvador can pull this off successfully it will be an example for the rest of the world to follow. It will show that the world can return to a state where the economics are based on value and not based on how much someone or something says. This is what I believe will be the start of a financial revolution that will bring in a golden era to cryptocurrencies. But besides having a effect on the whole world the most effects will be felt close to home in central America. Which is our next and last topic of discussion.
How El Salvador could effect the world
Out of all the bad news their is still some good news left to be told. If everything goes smoothly and as planned I believe El Salvador can improve it's situation. If El Salvador can stabilize its economy and bring down corruption then I believe it can be a source of stability in the region. In a region deprived of economic prosperity and full of corruption and crime El Salvador's bitcoin solution could be the change that is needed in this region. If they can turn around their economy with bitcoin then I believe they will become the economic model of third world countries that is well needed. You can bet as soon as news comes of the good this is doing for El Salvador their neighbors will get on board as well. As they wouldn't want to get left behind. As one fellow said about cryptocurrency you either get with it or get left behind. It's as simple as that and that's why you should expect this to be the start of a revolution.
My Final Words
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