How Bitcoin Will Impact Global Market if Accepted as Legal Tender in all Countries

The discussion about the integration of Cryptocurrencies as legal tender in various countries is taking shape with more trials providing guidelines. Despite the failures occasioned by geopolitical events globally, there is a desire to trade on crypto platforms amongst the masses. The phenomenon measured on the fear-greed index scale indicates that peoples’ feelings toward crypto trading lie on the greed side. Bitcoin has been among the big gainers in recent weeks showing that consumers understand its value. The following are predictable advantages of making BTC a legal tender across the world: Decentralization will Cushion Global Market against Geopolitical Conditions The current trend of BTC trading shows it is regaining stability, proving its ability to survive harsh geopolitical conditions. However, accepting crypto as a form of legal trading will shift the dynamics by ensuring global goodwill towards its success. The current fluctuations result from reluctance to trade in BTC due to the impacts of the international events on countries’ fiat currency valuations. Creating a decentralized global finance (DeFi) ecosystem will ensure that global trade is safe from unfavorable conditions. In the current global crisis, countries in the European Union face potential hits on industrialization due to existing sanctions on Russia. Countries in Africa face famine because some of the sanctions affect their ability to import wheat and f...