The CEO of the BiTMEX supported the move of El Salvador and claimed that 5 more countries will also adopt Bitcoin as legal tender.
Alexander Höptner , CEO of BiTMEX, published a blog on bitcoin adoption. Through the published blog, Alexander appreciated the move of El Salvador.
According to Alexander there are many developing & developed countries which are facing an “inherently unequal financial system”. And these countries will surely try to change their current status against such problems and in that situation they will choose better alternative options like bitcoin.
Alexander also voiced for El Salvador’s Bitcoin law to adopt Bitcoin as legal tender and tried to criticize those financial groups and institutions, which criticized El Salvador for their Bitcoin adoption.
Alexander wrote in the blog
“What the critics fail to recognise is that developing countries like El Salvador are leading the world in embracing decentralised digital currencies and payments. They’ve had decades to analyse how the global financial system works – and doesn’t work – for their populations. They acknowledge their powerlessness to influence monetary policy decisions that can have grave consequences on their citizens”
Alexander also explained that the adopting bitcoin is not a part of action against the monetary system but it is just an alternative tool to bring advancement.
Further Alexander added that developing countries will soon jump into bitcoin by 2022 because these countries will be able to understand about the potential of Bitcoin with more clarity to bring an efficient remittance system.
BitMex CEO also claimed that, we already see how inflation works in the fiat currency system. And probably it will push individuals toward bitcoin adoption against inflation. And people will don’t care about the actions of the government.