Bitcoin adoption is intensifying, and there are more moves that are taking the crypto space on the right track towards mass adoption of digital assets.
El Salvador buys BTC
A couple of days ago, we were revealing that, as you probably know by now, the crypto market was suddenly crashed the other day, just following the news that El Salvador made Bitcoin a legal tender.
While the crypto space was celebrating and no one was expecting it, Bitcoin’s price started to crash, and it obviously dragged the other coins down.
Crypto Twitter started making all kinds of assumptions, and you can see a relevant one below.
So, on the exact day that El Salvador launches Bitcoin as a legal tender against the wishes of the World Bank and IMF , mysteriously every single major exchange goes down at the same time as the price crashes by 20%…
— Ran Neuner (@cryptomanran) September 7, 2021
After El Salvador, more juicy news comes, and this time from Ukraine.
BREAKING: Ukraine has legalized Bitcoin and crypto.
You can now buy, sell and hold #Bitcoin and crypto.
— Blockworks (@Blockworks_) September 8, 2021
Someone said: “Moreover, this law will come into effect only after the adoption of the tax law regarding virtual assets, which is not yet known when it will happen (and whether it will happen at all) Until then, it will not take effect.”
An important online publication noted that a total of 276 Ukrainian lawmakers voted for the bill.
“Cryptocurrencies have been neither legal nor forbidden in Ukraine because there were no laws that defined them. Ukrainians could buy and exchange virtual currencies, but local courts couldn’t protect them if something went wrong,” the same notes say.
Regarding the price of BTC, at the moment of writing this article, BTC is trading in the red, and the king coin is priced at $45,856.32.