Famous CEO: 5 Countries Will Make Bitcoin Legal Money - News-Credit-Mortgage-Coin

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Monday, October 11, 2021

Famous CEO: 5 Countries Will Make Bitcoin Legal Money

 



Bitmex exchange CEO Alex Hoeptner seems to be a die-hard fan of Bitcoin (BTC). On this synergy, Hoeptner gave his respected prediction that more than five developing countries will accept BTC as legal tender before the end of 2022.


Alex Hoeptner thinks 5 countries will accept Bitcoin (BTC) by the end of 2022

Bitmex CEO made the following statements, saying that these countries will be from developing countries:


My guess is that by the end of next year we will have at least five countries that accept Bitcoin as legal tender. All will be developing countries. This is why I think developing countries will jump into crypto in 2022.

Moreover, Hoeptner made the prediction based on three main possible factors that he thinks could rapidly affect Bitcoin adoption in underdeveloped countries. Not to mention, he highlighted that remittances, inflation, and politics are key factors that will push BTC adoption next year. Extending the factors further, Hoeptner drew attention to El Salvador's GDP remittance and how the 10% fees on Western Union's home transfers deceived senders.


Alex Hoeptner also touches on Turkey's cryptocurrency adoption rate

Hoeptner also discussed the IMF's 2.4% inflation for developed countries and 5.4% for developing countries this year. He noted, however, that this forces people to choose other alternatives to fiat currencies when there is an inflation crisis. Hoeptner supported this view with the example of Turkey:


Crypto adoption has soared as inflation in Turkey has soared over 15% this year.


Finally, Hoeptner highlighted the idea that savvy politicians would benefit more from El Salvador's Bitcoin movement. Doing so could force them to adopt Bitcoin for greater utility and its components.

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