Mexico Is Closer Than The United States To Making Bitcoin Legal Tender

The United States is falling behind countries like Ukraine, El Salvador, and Mexico in Bitcoin adoption. 

Yikes. 

Ukraine recently legalized Bitcoin and other cryptos after the world poured over $100,000,000 in crypto donations into the country to fight Russia. 

El Salvador was the first country to make Bitcoin legal tender and the government has even added BTC as an asset on their balance sheet. 

Now, Senator Indira Kempis has introduced a bill in Mexico to make Bitcoin legal tender. Senator Kempis believes Bitcoin will empower Mexicans to preserve their wealth and participate in the global economy.

“It is clear to me that financial exclusion is one of the public problems that few of us have addressed with feasible alternatives, and that this type of technology is allowing us to generate an alternative so that millions of people can be included in the financial system,” - Senator Indira Kempis (source).

Many are surprised to learn the countries leading the world in Bitcoin and crypto adoption are not members of the G10, the top economic powers of the world, or even the United States. 

Citizens of countries that have destroyed the value of their currency, via inflation, are seeking alternative means of saving their money. Since the value of their paychecks drop as soon as they are received, citizens of these countries are buying Bitcoin or other digital assets to escape hyperinflation. 

Senator Kempis's hope is that the people of Mexico can participate in the Bitcoin monetary network and even be a world leader in crypto. 

Unfortunately, Senator Kempis's bill is unlikely to pass in 2022. 

However, Mexico continues to embrace Bitcoin and will likely be a world leader in its adoption. 

The third richest man in Mexico, billionaire Ricardo Salinas, recently attended the Bitcoin 2022 conference in Miami and gave us an update on what's happening in Mexico with Bitcoin. You can watch his interview below:

Ricardo Salinas has stated a whopping 60% of his portfolio is held in Bitcoin. He, and other Bitcoin millionaires, remain bullish on the asset and believes Mexico can lead Latin America in crypto adoption. 

This is all great news for Mexico. But as Americans, we should not allow Mexico to beat us to the punch! Politicians in the United States could be responsible for us falling behind Mexico in Bitcoin adoption.