PANAMA TO LEGALIZE BITCOIN AS A FORM OF PAYMENT

Black Rock launched their bitcoin fund last year, which allows their private investors to buy a truckload of Bitcoin. We also saw them adding Bitcoin into their global macro fund and I imagine we are going to see a lot more offers from these major financial institutions. Obviously, Blackrock is the bigger one but you can discount Goldman Sachs by 2.5 trillion dollars. Even a fraction of this money can buy every single Bitcoin on exchanges. These guys are going to be expanding their crypto offer, so what does that me in terms of Black Rock? It could potentially mean Bitcoin funds, and maybe more exposure to Bitcoin miners.

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I also think we could see someone like Blackrock bring out Ethereum fund in the very near future. We usually see this happen but first, we get the Bitcoin found shortly followed by an Ethereum fund. Panama is bringing out a bill to legalize Bitcoin as a form of payment in the country. This is a big deal, Brazil got did this and sign it into law which is massive. Obviously, Brazil is a more bigger economy than Panama because Brazil is the top 10 biggest economies. You do understand that we are seeing more and more countries adopting this legal status for Bitcoin. You should know that this is not a legal tender but it is just legalized for payment. Bitcoin will now have legal status if the bill gets passed in Panama. We are going to see more countries taking this step potentially as El Salvador did.

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Bitcoin premium is 60% in Nigeria as the country limits cash withdrawals, this is a wide story because the country limits cash withdrawals to $44 per day. The central bank has started a new policy that you are only allowed to take out $44 from the ATM. This situation will make you understand why Bitcoin is trading at a premium in Nigeria. Sometimes we before that Bitcoin is a necessity for some people and some places. This is why Bitcoin is skyrocketing in some places. Nigeria is one of the prominent countries in the world for Bitcoin adoption because they know that a big thing is coming.

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