http://www.newsbtc.com/2017/02/08/philippines-bangko-sentral-recognizes-bitcoin-payment-system/According to this article the Philippines Bangko Sentral Recognizes Bitcoin as Payment System. The article also added that Bangko Sentral states sees the virtual currencys potential to revolutionize the delivery of financial services. Additionally, they also mention how bitcoin provides financial inclusion, which is something traditional financial solutions have been unable to provide. This statements coming from the Central Banks of the Philippines will give a potential impact on the rise of bitcoins value on the market. And not only that, the Philippine Central Bank is not the only bank that sees the merits of bitcoin but also the the Central Bank of Nigeria.
I think Philippines sees what other bitcoin users see. The potential of virtual currency is very high, almost every day bitcoin value rises that is why individual are continuously trusting and engaging work that will let them accumulate bitcoin currency. There is no harm anyway in using virtual currency like bitcoin. This is helpful either, because investing in bitcoin has a greater chance to accumulate more money than having a bank savings where little interest annually. This is the reason why I think some country are in favor of virtual currencies.