Countries that have Bitcoin as having currency legal tender they could become two in the course of 2022. In fact, we return to Tonga, island microstate, where one of the members of parliament of the country, Lord Fusitu’a, has always been a big supporter of Bitcoin.
A good sign for the health of Bitcoin – on a day during which it seems to be struggling on the markets – although it is a state with a very small number of inhabitants that is interested in it and which is unlikely to be able to move significant volumes on the network.
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Tonga with Bitcoin as legal currency? There would be very good chances
At least as reported on Twitter from Lord Fusitu‘to the chances of this turning point a Tonga they would be very high. The bill that should make it Bitcoin legal tender currency a Tonga in fact, it could already pass by the end of the year.
All explained in a tweet that explains the whole complex iter which must follow the approval attempt a Tonga of a law that, again according to what is reported by Lord Fusitu’a, it would be a kind of very faithful copy of what it was implemented in El Salvador. An excellent hit brought by Bitcoin, which would thus become the second country in the world to use Bitcoin as having currency legal tender?.
What does it mean for Bitcoin?
This is an excellent success, even if in any case the question must also be analyzed with regard to the real size of the country and the impact it can have directly on the economy of $ BTC.
In fact, we are talking about a micro-state a little less than 750 square kilometers and hosting little more than 100,000 inhabitants. Not exactly a state that will manage to have a impact on the purchase and transaction volumes of Bitcoin, but that could still be an important signal for real economies that want to get closer to the world of $ BTC.
After all also Nayib Bukele he had indicated the passage of others as possible two states to an economy based at least in part on $ BTC, with Tonga which at this point could be the first of the two. Something simply unthinkable only a few months ago, which now takes on the dimensions and characteristics of a waterfall effect.
Fidelity also thinks that …
All this in a context where Fidelity, one of the most important fund managers of the world, indicates as possible the fact that different states enter cash Bitcoin, given that the relationship between risk And convenience it would be extremely beneficial now.
We don’t know if Fidelity have or not information more concrete than those that have been disseminated. However, we are certain that when centers of financial power of this type move, even in terms of opinion, something concrete must necessarily exist. Such a situation would pay off Bitcoin an ace catch all of which the current price around $ 42,500 it will only be a very distant memory.