Dr David Coker, Senior Lecturer in Finance, was quoted in an article by iNews about the use of Bitcoin as legal tender in El Salvador.
The article discusses El Salvador’s leader Nayib Bukele, who some experts are saying has “plunged the country into an uncertain future after adopting bitcoin as official currency.” El Salvador became the first country to legally recognise bitcoin as a form of payment at the beginning of September, which has been met with “fierce criticism amongst the population”.
Speaking to iNews, Dr Coker said that cryptocurrency was a safer way for Salvadorans to save money and build their wealth, as opposed to “burying cash in their backyard”.
He added that cryptocurrency is not alien to the population, and that “they have been using it informally for some time.”
Read the full article on the iNews website.
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