Cardano founder Charles Hoskinson believes that the legalization of bitcoin in El Salvador is a great achievement for the cryptocurrency industry, and other countries will soon follow the example of El Salvador.
On September 7, a law came into force in El Salvador, according to which bitcoin can be used in the country as a legal tender. El Salvador became the first state to legalize bitcoin.
commented on this event was broadcast on YouTube, saying that other countries will follow in the footsteps of this Latin American pioneer country in the near future. The adoption of Bitcoin gives people the hope that they can truly control their money. Hoskinson is confident that Bitcoin and other cryptocurrencies are the future of the financial system, since the younger generation is already actively using cryptocurrencies, and their mass adoption will be inevitable.
“Most young people under 25 are good at cryptocurrencies, many of them even own them. These people will pass on their values and beliefs about the nature of money to children, ”Hoskinson said.
He also suggested that cryptocurrencies will become an integral part of various government structures in the coming years. Many states will begin to use digital assets in their monetary policy, use them as reserves at central banks, use cryptocurrencies for interbank settlements, or simply allow cryptoassets to be accepted as payment on a par with the state currency, as happened in El Salvador.
Hoskinson recently expressed displeasure that the cryptocurrency community is “overly addicted” to non-fungible tokens (NFTs) and crypto-memes such as Dogecoin.