El Salvador’s use of Bitcoin as legal tender is a milestone in the crypto world. This decision will quickly introduce other cryptocurrencies related economic activities into the country, giving it a first-mover advantage in the crypto world. And El Salvador’s bold attempt has brought Bitcoin an excellent opportunity to prove it.
After El Salvador proposed the bill to adopt Bitcoin as legal currency, Panamanian Congressman Gabriel Silva tweeted that Panama cannot be left behind. If Panama wants to become a true center of technology and entrepreneurship, we must support cryptocurrency and Prepare a proposal for parliament. The President of Colombia shown a fanatical interest in cryptocurrencies, the Paraguay official said that our country needs to move forward hand in hand with the new generation. Our time has come we started an important project, Paraguay is really taking off in the face of the world of innovation!”
https://medium.com/cryptocurrencies-ups-and-down/bitcoin-will-become-the-reserve-currency-for-every-country-c5a372a989c4Interesting Idea but it's far from reality. If you try to tether bitcoin with fiats, the result will be the ever-increasing price of bitcoin due to the limited supply of bitcoin but an unlimited supply of fiat. This would in turn bolster people to buy bitcoin instead of holding fiat, therefore, making fiat almost useless, so why would any country do that? If they really want to incorporate bitcoin into their economy it's better to directly make it a legal tender than to make it as a reserve currency to your fiat. El Salvador did this so easily because they have no legal tender of their own.