Bitcoin and Alt currency Space does not stop getting new entrances. From giant corporations to government-backed institutions and celebrities all joining the party, it is no fair to say that the world has yet to witness the full potential of cryptocurrencies.
Today, the latest entrant into the crypto world is the prominent and controversial former batsman from England, Kevin Petersen.
Petersen’s announcement that he is close to joining the bitcoin world means he will follow the orders of Shoaib Akhtar, the former Pakistani cricketer who launched the world’s first cricket-focused NFT market just last week.
The interest of prominent international figures in digital assets is a testament to the gradual delving of cricket into the enchanting world of cryptocurrency.
On his Twitter account on Monday, Kevin Petersen reported that after a fruitful discussion with McCormack, he “is getting closer and closer to joining the #Bitcoin world.”
– Kevin Petersen (@kp24) June 28, 2021
El Salvador effect
McCormack is the host of one of the world’s most popular crypto podcasts savior President Neb Bokel.
The event was primarily to discuss the use of bitcoin as a legal currency in the country. El Salvador this month became the first country to approve Bitcoin as legal tender, a policy that is set to become fully effective in September 2021.
During questioning on Wednesday during the debate, the President of El Salvador I showed Putting such confidence in the digital currency was to drive jobs and economic development for the Central American country.
Despite the World Bank’s refusal to give the country the required technical support and expertise, Bukele affirmed his confidence, saying that the policy would be fruitful.
Arguments Against Bitcoin
The International Monetary Fund had expressed some concerns about the policy, which the small American country had reached out to the World Bank for assistance.
However, the World Bank declined a request for assistance in implementing the policy due to the environmental and transparency shortcomings of the digital asset.
The adoption of Bitcoin for payment has now been a topic of debate about transparency and environmental impact for some time now.
In fact, the issues have led to a crash of digital assets for about two weeks now at Elon Musk announce That Tesla no longer accepts Bitcoin (BTC) as payment due to its environmental impact.
Bitcoin price drop
Since then, the ad has fallen in price, losing 15% of its value in less than 24 hours. However, the tech mogul gave the go-ahead, tweeting something rather favorable that caused the price of Bitcoin to bounce back around 5% in a matter of seconds.
However, it is not known whether the recent rally or the so-called “green light” given by the Tesla chief is also a major boost that sparked interest in the Bitcoin industry.
However, there is no doubt that given the chain of events that followed the El Salvador hack, the recent announcement by sports figures like Petersen on his journey into the world of crypto is not far from connected.
In a few weeks from now, we expect more celebrities to be impressed with his announcement: venturing into the wild world of Bitcoin.
Featured image from Pixabay, Charts from TradingView.com