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El Salvador’s Bitcoin Adoption is “Overplayed,” says Fidelity Investment Analyst

El Salvador created history earlier this month as Bitcoin became a legal tender in the country. Many crypto proponents called it historic and believe it would create a domino effect on other small financially challenged nations to adopt Bitcoin. However, Jurrien Timmer, a Fidelity Investment analyst believes the significance of El Salvador’s adoption is overplayed.

El Salvador created history earlier this month as Bitcoin became a legal tender in the country. Many crypto proponents called it historic and believe it would create a domino effect on other small financially challenged nations to adopt Bitcoin. However, Jurrien Timmer, a Fidelity Investment analyst believes the significance of El Salvador’s adoption is overplayed.