We all know, there are 2 types of cryptocurrency
1st: centralized
2nd: decentralized
The difference between them, centralized cryptocurrency is controlled by a government or a company. It has value only in the specific area under company or government boundaries.
Decentralized cryptocurrency has no connection with any state, government
But, the government of some countries are against Bitcoin and some are ready to adopt Bitcoin. So what would effect on Bitcoin if any government approved Bitcoin as a legal tender?
Gold, too, in fact, is not centralized until it is extracted. If the country approves bitcoin, it will clearly begin to produce and increase the number of bitcoins. And this will be followed by a shortage of bitcoin and the price will increase progressively!