Post
Topic
Board Bitcoin Discussion
Re: Mexico is the next El Salvador?
by
Lucius
on 04/10/2022, 11:02:38 UTC
Obviously, opposition politicians are trying to win a few political points by promising something that they cannot realistically fulfill because they are not in power, and it is unlikely that they will change that in the near future. Recycling news like this every few months will unfortunately not change anything.

Mexican senator proposes bill to make Bitcoin legal tender (03 July 2022)

In addition, does Bitcoin need to be legal tender anywhere in the world to be a legal means of payment? Of course, that is not necessary, not even when it comes to Mexico...

A supermarket in Mexico now allows Bitcoin payments for all their items (23 December 2021)



First please get some facts right! El-Salvador did not just make bitcoin legal tender but they made it the official currency. Mexico is not going to do the same! They are going to adopt bitcoin as a legal tender alongside their official currency system. So both cases are different.
That's a wise way to do it unlike El-Salvador! This way Mexico will be able to protect themselves from bitcoin's volatility while enjoying the innovation!

El Salvador has had the USD as its national currency for more than 20 years, and it still has it today. Mexico can do the same thing as ES, they certainly won't ditch their Mexican peso and replace it with Bitcoin. Of course, all of this is in the head of an opposition member of parliament, and those in power don't really care too much about what the opposition thinks or proposes.