I'm sharing this because I think many people are still unaware of this. To the best of my knowledge, El Salvador and the Central African Republic are the only countries that have adopted Bitcoin as a legal tender at the national level. As far as I know, no other countries have adopted it as a legal tender since then. However, El Salvador recently significantly revised its relevant laws, effectively revoking Bitcoin's legal tender status. I understand that it is currently held and utilized as a strategic asset. In the Central African Republic, too, actual expansion appears to have been minimal since its initial declaration. Seeing these trends, I've also revised my perspective on Bitcoin's upside. While I previously expected the "proliferation of national legal tenders" to be a significant trigger, I believe the reality is unfolding in a different direction. Right now, I believe that rather than the expansion of legal tender itself, trends such as stockpiling as a strategic asset, inclusion in corporate financial statements, and institutional inflows through ETFs are more important variables. In other words, adoption as an asset is taking precedence over adoption as a currency. Furthermore, I believe Bitcoin has significant potential to gain traction as a decentralized reserve asset and settlement layer for national and corporate reserve assets, and in the coming era of AI agents. This is because the global digital economy will likely require a reliable store of value and a neutral payment and settlement layer. Of course, this is only one perspective, and various interpretations are possible. However, I would appreciate it if you could view this trend as a perspective worthy of consideration.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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