On June 9 this year, El Salvador became the first country in the world to accept a crypto asset as its legal tender. The El Salvador congress passed the Bitcoin legal tender bill henceforth, giving a stamp on Bitcoin being adopted as legal tender and sending millions of cryptocurrency supporters across the world into a sense of elation. However, it may have been just the beginning and there is a possibility that the country is going to accept some other digital assets as legal tender after Bitcoin and Cardano stands next in line.
Founder of Cardano, Charles Hoskinson has confirmed that he has been in touch with the officials and parties in El Salvador and soon he will meet the president to present his points in favour of adopting Cardano. According to him, El Salvador has shown ample interest in digitizing the country and they want to go beyond just Bitcoin.
” If it’s a proper state visit, I actually have a suit made. I’m gonna look pretty and go out there, have some fun “ , Charles Hoskinson said.
Hoskinson also said that it will be in their (El Salvador) hands ultimately and next two or four weeks will give us better sense on it but there is no lack of interest. He was taking various questions in a podcast when he came across a question from Dean where he asked whether or not Hoskinson has been communicating with El Salvador regarding ADA and his answer was affirmative.
” Yes, we have been in talks with some officials and parties in El Salvador and I may do a state visit… [ we have] sent out all the documentations and request for that. So we’ll meet the president but it is basically gonna be in their hands. We’ve talked to a few people that are in that orbit and they have definitely shown their interest in digitizing the country, going beyond just legalizing Bitcoin. ”
— ADA | staketoday.io (@staketoday_io) June 28, 2021
Cardano has shown a lot of potential when all the major crypto assets have been under tremendous stress. ADA, the native cryptocurrency of Cardano was one of the rarest digital coins to survive the crypto crash following Elon Musk revoking the support for Bitcoin.
When compared from the last week to now, Cardano has grown for around 18% with very insignificant daily change of 1% as it was being traded at $1.35 at the time of publishing the article