The Problem with El Salvador's Bitcoin | Three Minutes on Markets & Money 9/8/21

NOTE: Watch the video version of this report by subscribing to our YouTube channel: https://www.youtube.com/watch?v=Ki0oHg1nkz4&list=PLVT8LcWPeAujOhIFDH3jRhuLDpscQaq16&index=1&t=88s (9/8/21) Will El Salvador be "the savior" of Bitcoin? The country's adoption of the cryptocurrency raises several interesting questions (legal tender defined): How to convert Bitcoin into a local, legal currency? Interestingly, Bitcoin dropped 20% after El Salvador's announcement of its acceptance of the cryptocurrency as legal tender. Katie Woods and other proponents say it's great to have El Salvador as a Bitcoin country...but is El Salvador really the country you want as the "face" of the cryptocurrency? What will Bitcoin's effectiveness really be? Will it become legal tender in the US? The currency's lack of stability in price will be a factor, as well as the issue of government control over the currency. - Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts -------- Articles mentioned in this report: https://realinvestmentadvice.com/technically-speaking-wall-street-sets-its-sights-on-sp-5000/ -------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to RIA Pro: https://riapro.net/home -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #Fed #Bitcoin #Gold #Stocks #Trading #Rates #Money #Markets #Finance #S&P_5000