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Jun 10, 2021
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Bitcoin adoption in Central and South America?

Written by
Titus

With El Salvador’s move to accept Bitcoin as an official means of payment, the small Central American country has given the oldest cryptocurrency an accolade. Sure, it’s El Salvador, not exactly a huge economy and rather insignificant in the global financial world. However, the state acceptance of BTC is a bang.

The President of El Salvador has also adjusted his profile picture on Twitter: Red laser shoots out of his eyes! What is this phenomenon about? Why do more and more personalities from the crypto space and now American senators have laser eyes on Twitter? We took a look at the trend with red eyes and show you a small selection of prominent laser eyes.

The news from El Salvador probably superimposes all the other news of the week: The fact that a country accepts Bitcoin as an official means of payment could represent a promising model for economically troubled countries or countries with high inflation. These countries are also making themselves more independent of the international SWIFT banking system. This system enables transfers to be made to any country connected to the system.

Countries like Iran or Cuba are excluded from SWIFT by the US, which can wield great power over the system. However, there are efforts in both the EU and Russia to become more independent of the US-controlled financial system. The advocates of Bitcoin, who have increased in number in recent months, are also interested in financial independence and freedom.

Especially on Twitter, the trend has developed in recent months to show your support for Bitcoin with red laser eyes on the profile picture. Above all, personalities from the crypto space have of course joined this trend.

But even personalities who do not come directly from the financial or crypto sector had meanwhile expressed their enthusiasm with red eyes. Including Tom Brady, the best football player around forever, and Paris Hilton, who is known for being known.

But people from politics like the Republican Senator from Wyoming Cynthia Lummis already had the red, shining eyes. The American state has a crypto-friendly policy. This has to do with the cold climate and the low electricity prices — both favorable factors for the Bitcoin mining business.

The latest in the group of laser eyes is now the President of El Salvador: yesterday he uploaded a new profile picture on Twitter in which he has the red Bitcoin eyes. The exciting thing is that politicians from Brazil and Argentina, both countries with troubled economies, did the same as the President from El Salvador, the “first Bitcoin country.”

Is this going to be a wave of Bitcoin adoption that is rolling from South and Central America across the globe? Hard to say. It is definitely positive for further institutional adoption and overall awareness of BTC.

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Disclaimer: These lines are not a substitute for investment advice, investments in the crypto market are made at your own risk. Invest only as much as you are willing to lose. I get commissions for purchases made through links in this post.

Article Categories:
Bitcoin · btc · Crypto · cryptocurrency · finance
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