The Next El Salvador? These Are the Regions Witnessing a ‘Gravitation’ Towards Bitcoin, Says Grayscale CEO

The Next El Salvador? These Are the Regions Witnessing a ‘Gravitation’ Towards Bitcoin, Says Grayscale CEO


A top executive at Grayscale says emerging nations are gradually being drawn toward Bitcoin (BTC).

In a Yahoo! Finance interview, chief executive officer Michael Sonnenshein of the crypto investment company says certain regions of the world will embrace Bitcoin (BTC) whether their governments take action or not.

 

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“When we think about where adoption rates are taking place, they are highest in the emerging markets, in places like Africa, Southeast Asia [and] parts of South America.

But certainly, we’re seeing a gravitation towards Bitcoin regardless of government action in some of these countries because a lot of these citizens either don’t have access to financial services… or perhaps their local currencies have been debased or have been eroded in some way because there hasn’t been enough government control over their local currency.”

Sonnenshein says Grayscale predicted that an emerging market would one day support BTC and other emerging economies could soon follow in El Salvador’s footsteps.

“Being a country

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