At this point, two out of three people in the world own a smartphone. But in some developing countries, most residents still don’t have a bank account.
That could change soon, though, as El Salvador recently became the first country in the world to adopt bitcoin as legal tender.
With access to the popular cryptocurrency, the nation’s 6 million residents can now take advantage of a variety of financial services.
In today’s Market Insights video, my colleague Steve Fernandez and I discuss why El Salvador’s new legislation is an important step in bitcoin’s path toward becoming a global currency.
(If you’d prefer to read a transcript, click here.)
Editor, Strategic Fortunes