Post
Topic
Board Bitcoin Discussion
Re: What if India or China declares bitcoin as legal tender in the country ?
by
GigaBit
on 21/10/2024, 17:58:21 UTC
What if India or China declares bitcoin as legal tender in the country ?  What impact will it have on the bitcoin prices and other crypto coins ?
If there is such decision taken by the governments of India and China that they will accept Bitcoin as legal tender in their countries, there will undoubtedly be a major boom in the Bitcoin price and cryptocurrency markets as well as the adoption of Bitcoin will continue to grow exponentially and it is more likely to happen because we know that India and China are the most populous countries in the world.

According to a 2022 UN report, China's population was 1.426 billion while India's population was 1.412 billion at that time.



When Bitcoin is legalized as legal tender in these two countries, the number of investors will increase exponentially, which will also increase the price of Bitcoin significantly. Moreover, institutionally investors will be encouraged to buy Bitcoins which will be able to increase the value of Bitcoins significantly. Not only that, when India China legalizes Bitcoin, other countries will also start investing in Bitcoin and the same time Global trust will be created.

When India and China legalize it, they will also announce their country's full support for miners. As a result, the amount of investment will increase as miners express interest. That means  positive impact will be created for bitcoin from all aspects. It will have a positive impact on the entire world.