Bitcoin & El Salvador

Back when El Salvador adopted Bitcoin as a legal tender, Andrew Singer of Cointelegraph asked me about my views on the matter. Here are some excerpts from the resulting article, An asset for all classes: What to expect from Bitcoin as a legal tender:

“Legal tender basically ‘means that a government has declared a type of money receivable for taxes, and it is legal to use the money in contracts and to denominate goods and services in it,’ Franklin Noll, a monetary historian and the president of Noll Historical Consulting, told Cointelegraph….

‘There is no reason a country cannot establish their own legal tender stablecoin or adopt a pre-existing one. So, I would see El Salvador’s adoption of Bitcoin as part of a trend rather than a milestone’.”