Is Honduras Going to Make Bitcoin a Legal Tender?

After the success story of El Salvador, another Central American nation Honduras is all set to register Bitcoin as a legal tender. However, for the time being, the news has not been confirmed by the officials or any government organization in Honduras. Despite the lack of evidence and authentication, the rumor has already taken root on social media platforms.

The main reason behind the massive speculation among the netizens is the suggestive remarks of the President of Honduras. During one of his public statements, President Xiomara Castro recently suggested that El Salvador should not be the only region that can take advantage of the Bitcoin adoption. He also claimed that Bitcoin played an important role in allowing El Salvador to escape the hegemony of the USD.

Honduras President Praises Bitcoin

Honduras president has been talking incessantly about the benefits and advantages of the Bitcoin adoption that has occurred in El Salvador. However, some of his remarks have made it into the mainstream media without any confirmation from the government secretariat. One such unverified source quoted Castro claiming that the country should make preparations to join the First World countries.

At the present time, there are no public confirmation statements issued by the government of Honduras. However, financial experts and analysts suggest that the country’s administration has been following the pattern of Bitcoin adoption, just like El Salvador. Last year in August, the first-ever Bitcoin ATM was installed in the capital city Tegucigalpa. The crypto ATM allowed the local merchants to trade digital assets with the native fiat lempira.

Max Kieser is the host of the orangepill podcast and a cryptocurrency enthusiast. He recently tweeted the flag of Honduras with a simple tweet that it is finally happening. According to the netizens, it hints toward the adoption of Bitcoin as a legal tender in the Central American neighborhood of El Salvador.

After El Salvador, the news about Bitcoin adoption has become quite common. As per social media genealogy, Honduras is the 40th country to hint at Bitcoin adoption since last year. The community voting section at CoinMarketCap has also confirmed the ranking. A host of South American countries planning to adopt Bitcoin as legal tender are Venezuela, Paraguay, and Anguilla.