Grayscale CEO Michael Sonnenshein said that developing countries are starting to turn to Bitcoin (BTC).
Yahoo! In an interview with Finance, Michael Sonnenshein said that certain regions in the world will adopt Bitcoin regardless of the actions of governments.
“When we consider where adoption rates are higher, we come across parts of Africa, Southeast Asia and South America.
In some of these countries, we see a trend towards Bitcoin independent of the actions of governments. Because most of the citizens of these countries have difficulties in accessing financial services. Or local currencies have lost value. Because there is not enough government control over local currencies.”
Sonnenshein thinks other emerging economies may follow El Salvador in the near future.
“Being a country like El Salvador, making Bitcoin legal is an incredible milestone for a society”