Bitcoin Adoption Thus Far in Q2

    CryptoMode Bitcoin Ethereum Addresses Bitcoin DeFi

    Bitcoin is the world’s most sought-after digital asset. It has a circulating supply of 19 million BTC, a maximum supply of 21 million BTC, and the current market cap is ranked #1. The Bitcoin live price today on one of the top ten global exchanges, is below $40,000, and it is down by 2.98%.

    Despite the addition of $100.4 worth of BTC which is equivalent to 2,500 BTC that was added to Luna Foundation Guard (LFG), the non-profit organization attached to Terra and bringing LFG’s total value of BTC held in its reserve to $1.72 billion, the bears still prevailed over the bulls as of the time of writing. From the trading charts of the BTC/USDT pair on the exchange platform, if the bulls can reclaim the $41,000 ahead of on Friday, BTC may see another bullish movement, and investors and traders will make some gains.

    More Nations Are Following El Salvador’s Bitcoin Lead

    El Salvador adopted Bitcoin as a legal currency and other nations of the world are following suit. About seven months ago, the President of El Salvador Nayib Bukele declared Bitcoin a national currency. On March 26, 2022, there were 62 deaths in El Salvador and the government attributed the deaths to criminal gangs. Historically, that was the most violent 24-hours in almost 30 years in El Salvador which led the country’s parliament to approve a state of emergency on March 27th.

    Due to this unforeseen circumstance, President Nayib Bukele wrote a letter stating he would be absent for the Bitcoin 2022 Conference held in April because his nation needed his presence. A donation of over $1 million in bitcoin was made to assist families in El Salvador who were affected by the ongoing gang violence in the country by Bitfinex. On April 12, the President of the country tweeted that in the past 18 days, authorities have captured over 10,500 terrorists.

    Mexico Plans to Throw Its Weight on Bitcoin Adoption

    Senator Indira Kempis announced in April that Mexico is considering adopting Bitcoin as a legal tender. Mexico, which is a Central American country, is preparing legislation to adopt Bitcoin as its legal tender in the next two months. The Senator disclosed this news during the Bitcoin 2022 conference in Miami, stating that 67 million people are excluded from the country’s financial system today and the adoption of Bitcoin will be beneficial to Mexicans. She revealed that Bitcoin will solve the financial challenge of the Mexicans and that she and Samson Mow, the former Chief Strategy Officer of Blockstream will have a meeting to discuss the introduction of Bitcoin as legal tender in the country.

    Vitalik Is Now A Citizen of Montenegro

    Montenegro, a small southeast European nation granted Ethereum co-founder Vitalik Buterin citizenship of Montenegro. The Montenegrin government had promised to make the nation a hub for blockchain innovation. The country had the Ethereum co-founder at the Future now panel discussion hosted by Minister Spajic on April 7. The minister wishes his country to be hard on criminal activities in the blockchain space and wants his country to be the hub for blockchain innovation with an emphasis on all advantages of a legitimate industry that will bring attractive regulations. This is good news for the Bitcoin community.

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