Quote from: ultrloa on October 23, 2024, 10:02:19 AM

Quote from: arhipova on October 21, 2024, 01:27:18 PM

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 ?

The answer is simple for sure it can drive the demand for bitcoin. Imagine how many people are there in those country, for sure the limited supply of bitcoin would be not enough and guess what happen next? The price of bitcoin would provably rise up and maybe this would became more valuable if that good event happen.

But we cannot expect that this acceptance would happen as easy as we think. Since for sure for now this event is not gonna happen especially the government of both countries doesn't show any sign that they would think about doing that or at least they became a crypto friendly nation.

Yeah, it will only happen if pros will outweigh the BTC not being regulated on Chinese soil Grin

Maybe it will happen and it will have a positive effect, however, it's only a speculation.