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Crypto Market News: Samson Mow, a popular figure in the crypto ecosystem and the CEO of JAN3, a company that works towards hyperbitcoinization efforts, is very bullish on El Salvador’s position in pushing forward the Bitcoin narrative. He stressed on the need for further educating people about what the crypto market is all about. Mow said a lot of people in the financial world are looking at how El Salvador is developing the Bitcoin ecosystem. His comments come at a time when several crypto exchanges, including United States based Coinbase, are looking to expand their wings in Asia and elsewhere.
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El Salvador Is The Bitcoin Beacon
The Jan 3 CEO explained how El Salvador is critical for global nation-state Bitcoin adoption, in that the country’s moves could have ripple effects in other economies and eventually pave way for political action. He added that the crypto market needs more countries adopt Bitcoin. The country’s action to make Bitcoin legal tender brought in a small foothold but the crypto ecosystem more of it, he said, adding that there is a need to fight the Central Bank Digital Currency (CBDC) narrative with Bitcoin.
“Success in El Salvador is good for Bitcoin. The country is a beacon that we can point to and we can look at other things we can do in other countries with Bitcoin as legal tender now.”
Mow explained that the Central American country is very important for crypto market in the grand scheme of things. He said another country in the region, Guatemala could adopt Bitcoin in not time as the local laws allow the use of foreign currencies.
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