Bitcoin's Narrative Changed Completly

Why El Salvador recognizing Bitcoin as legal tender is a game changer

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Hey DEFI TIMES community,

Yesterday, it became official: El Salvador recognizes Bitcoin as legal tender. This is a groundbreaking moment for the Bitcoin community because it marks the beginning of a new era: Countries adopting Bitcoin!

Twitter avatar for @nayibbukeleNayib Bukele 🇸🇻 @nayibbukele
I’ve just sent the #BitcoinLaw to Congress 🇸🇻 ImageImageImage

June 9th 2021

3,870 Retweets

As of today, we have only seen Bitcoin adoption in terms of “store of value.” However, yesterday, Bitcoin became an official currency in El Salvador. That means that any merchant must accept bitcoin by force.

This situation heavily reminds one of the moment the first companies put Bitcoin on their balance sheet. El Salvador adopting Bitcoin could be the “MicroStrategy moment” for countries. When MicroStrategy bought Bitcoin for the first time, nothing really happened. However, as more and more companies did so, we saw a massive explosion in price and adoption.

This is exactly what could happen with countries too. Today, a very small country takes the risk first. But as more and more (and even bigger) countries recognize Bitcoin as legal tender, we could see a similar network effect.

Few countries want to be first… but nobody… wants to be the last one!

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Kusama Parachain Auctions

Twitter avatar for @defitimesDEFI TIMES @defitimes
BREAKING: Over $100 million raised in first @kusamanetwork Parachain auctions! Read here! 👇 defitimes.io/news/over-100m…Over 100M USD Raised in Kusama Parachain Auctions - DEFI TIMESKusama has raised over 100M USD Raised in their first Parachain Auctions.defitimes.io

June 10th 2021

Kusama has raised over $100 million worth of KSM in their first parachain auctions!

MicroStrategy Bought BTC Again

Twitter avatar for @defitimesDEFI TIMES @defitimes
.@michael_saylor bought the dip - ONCE AGAIN! Before sell now... think about what billionaires are doing! 🚀 defitimes.io/bitcoin/michae…Michael Saylor & MicroStrategy Bought The Dip - Again! - DEFI TIMESMicrostrategy and Michael Saylor bought the bitcoin dip - for $400 million! The company wants to protect its assets from inflation.defitimes.io

June 8th 2021

2 Retweets

MicroStrategy purchased an additional $400 million worth of bitcoin. They bought the dip - once again!

Curve 2 live

Twitter avatar for @CurveFinanceCurve Finance @CurveFinance
Our algorithm for exchanging volatile assets is up! On Ethereum: curve.fi/tricrypto On @0xPolygon: polygon.curve.fi/atricrypto Image

June 9th 2021

388 Retweets

Curve 2 is now live, which auto-concentrates liquidity with dynamic price fees using internal oracles.

WEF on DeFi?

Twitter avatar for @BloqportBloqport @Bloqport
The World Economic Forum has published a new white paper on DeFi wef.ch/defitoolkit Image

June 8th 2021

137 Retweets

The World Economic Forum has published a whitepaper on DeFi. The world is learning about it!

OKCoin enabled Polygon withdrawals

Twitter avatar for @0xPolygonPolygon (previously Matic) @0xPolygon
🔥 @Okcoin has integrated Polygon PoS mainnet for withdrawals to reduce gas fees for users! 🪙 Users can withdraw 11 assets including $ETH $USDT $USDC $DAI, directly to Polygon to take part in the vibrant DeFi ecosystem. bit.ly/SaveETHwithOkc… Image

June 8th 2021

303 Retweets

OKCoin has enabled withdrawals to the Polygon PoS chain. This further reduces gas fees as users won’t have to use Ethereum in order to transactions on Polygon.

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DISCLAIMER: All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.

Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.

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