India bitcoin boom incoming! $10tn economy tipped to adopt crypto after El Salvador move
India’s predicted move could have a very positive effect on the price of bitcoin as the nation is the world’s sixth-largest economy. This could open up a $10trillion economy to bitcoin investment and daily transactions. About the possibility of India following El Salvador’s lead, editor at Invezz, Jayson Derrick said: “Encouraging developments in the move towards greater adoption of bitcoin aren’t limited to poorer countries.
“India, a G20 member with a $10trillion economy, is reportedly close to classifying bitcoin as an asset class”.
Referring to the trajectory of mainstream adoption of the world’s preeminent cryptocurrency, bitcoin pioneer Max Keiser told Express.co.uk: “India, like all nations, will follow El Salvador and make bitcoin their official currency.
“I can say this with 100 percent certainty because Game Theory is hardcoded into the bitcoin protocol, reckless money printing by central banks is unstoppable, and the best safe-haven asset in the world is bitcoin.”
Many Latin American nations such as Mexico, Colombia, Argentina and Brazil, with economies that struggle with inflationary issues, may follow the example set by El Salvadoran lawmakers who made bitcoin legal tender on June 8, 2021.
