Bitcoin Becomes Legal Tender in El Salvador, Ethereum Reaches New High & Bitcoin ATM Industry Grows
El Salvador declared Bitcoin a legal tender in September 2021, causing a stir in the global socio-political environment.[0] Proponents of the move hailed it as a milestone towards mainstream adoption, while traditional monetary policymakers predicted it would backfire. Ethereum, the second-biggest digital coin, has now rallied to a new high of $1,664.78 on Saturday, surpassing $1,600 for the first time since November 7, 2022.[1]
The decision to make Bitcoin a legal tender in El Salvador has been welcomed by the cryptocurrency community.[2] However, several media outlets and economists have expressed concern, arguing that El Salvador’s economy could be put at risk if it fails to reach an agreement with the International Monetary Fund (IMF) due to the falling Bitcoin price.[2]
Despite the controversy, Ether has continued to grow in value, jumping 1.20 percent in value on Tuesday and trading at $1,638 (roughly Rs. 1.33 lakh) as of 6.40am. ET, according to Gadgets 360’s crypto price tracker.[3]
Bitcoin Cash price prediction for the upcoming year has been released, forecasting the value of the cryptocurrency in May, November, September, January, July, January of 2023 and 2024 and March of 2023. Additionally, the Bitcoin Cash Price Prediction for the near days has been provided. BTC/USD forecast, news, and trading signals are also available.
As the Bitcoin ATM industry rapidly changes, Genesis Coin Inc and Bitstop are leading the way into the future. Combining the best minds in the space, the two companies have become the “standard” in the Bitcoin ATM space and are responsible for virtually all organic M&A activity. With a strong balance sheet, no debt, and strong cash flow, Genesis Coin is financially secure and provides operators with the assurance they need to build their future on the platform.[4]
In conclusion, the Bitcoin ATM industry is continuing to evolve and is projected to experience significant growth over the next 10 years.[2] With the combination of Genesis Coin Inc and Bitstop, the industry has the potential to become one of the most innovative ecosystems in the cryptocurrency space.
0. “El Salvador President Calls Out Legacy News Agencies that …” thecryptobasic.com, 24 Jan. 2023, https://thecryptobasic.com/2023/01/24/el-salvador-president-calls-out-legacy-news-agencies-that-criticized-his-bitcoin-decision/
1. “Bitcoin’s 2023 rally gathers steam as cryptocurrency briefly tops US …” www.dimsumdaily.hk, 24 Jan. 2023, https://www.dimsumdaily.hk/bitcoins-2023-rally-gathers-steam-as-cryptocurrency-briefly-tops-us23000/
2. “El Salvador now debt-free thanks to Bitcoin! – Coinpri” coinpri.com, 24 Jan. 2023, https://coinpri.com/news/bitcoin/el-salvador-now-debt-free-thanks-to-bitcoin/
3. “Bitcoin, Ether Continue Upward Trajectory as Most Cryptocurrencies …” www.technologyforyou.org, 24 Jan. 2023, https://www.technologyforyou.org/bitcoin-ether-continue-upward-trajectory-as-most-cryptocurrencies-record-profits-all-details/
4. “Genesis Coin Inc, Powering 35% of Global Bitcoin ATM …” www.finanznachrichten.de, 24 Jan. 2023, https://www.finanznachrichten.de/nachrichten-2023-01/58134956-genesis-coin-inc-powering-35-of-global-bitcoin-atm-transactions-acquired-by-bitstop-founders-015.htm
