I have been pondering on the motion of making bitcoin a legal tender, if bitcoin becomes legal tender, it can be used in place of fait currency to purchase goods, used for transactions,etc.
For me, making bitcoin will take years because that motion will never be assigned by our financial institutions and central banks. The main reason is what we call;
That won't necessarily make Bitcoin a country's legal tender. It requires a process that is certainly complex and not easy. El Salvador, which has made BTC a legal tender, initially experienced many pros and cons regarding this decision. Because not everyone is ready for this mass adoption. However, as time goes by, it becomes quite amazing and works well.
So, can this be applied in other countries? of course it actually can. But the problem is, each country has its own considerations as to why they haven't legalized it until now. Or they still prohibit it as a legal means of payment. There must be quite a complex reason. However, it seems that in some countries, even though BTC is not yet legal tender, you can already use BTC as a means of payment on several platforms or merchants. It's just that it's still not that significant. The hope is that there will definitely be significant progress in the future. So Bitcoin can be increasingly known to many people and accepted in various engagements.