Crypto Expert Nick Spanos Applauds El Salvador's Move to Adopt Bitcoin as Legal Tender

Earlier this week, El Salvador passed a law to use Bitcoin as legal tender, increasing the price of the world's largest cryptocurrency by six percent to $37,000 on Wednesday. The bill, passed Wednesday, allows the prices of various goods and services to be displayed in Bitcoin. As a result of the recently enacted law, taxes can now be paid in Bitcoin and this has other consequences. Crypto pioneer Nick Spanos, known for founding the world's first physical Bitcoin exchange (Bitcoin Center NYC) in 2013, said he believes Bitcoin has "leveled the playing field" and that other similar countries will continue to show increased interest in crypto. “Countries that lack monetary independence have been inspired by the growing millions of individuals who have seized their monetary sovereignty with Bitcoin,” said Mr Spanos, founder of the ZAP protocol. “Countries and regions that rely on dollars and seek crypto include the Marshall Islands and even Native American tribes.” Bitcoin and blockchain are giving countries and people who have no hope of having financial and monetary leverage like never before. Bitcoin evens the playing field. "Be very careful with global power interests that conflict with this monetary self-determination principle." Despite the recent price surge, Bitcoin is still a long way from the all-time high of $64,829.14 reached when ENCRY Foundation co-founder Roman Nekrasov told Crypto Daily that he expects the price of Bitcoin to stay between $32,000 and $38,000 in the range for the next few months. . “I believe Bitcoin will continue to fluctuate between $32,000 and $38,000 not only in the coming weeks but also in the months ahead. "It seems unlikely to me to go below $30,000," he said. “The crash in May indicated that many market participants received $30,000 buy orders and once the price reached that number, there was a large-scale buy order.

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