RIO DE JANEIRO, BRAZIL - If a winner of the pandemic had to be nominated, cryptocurrencies would undoubtedly be among the finalists. In the face of the monetary expansion of the governments to deal with the coronacrisis, virtual currencies were seen as the most efficient method of safeguarding value and their adoption grew by almost 900% according to Chainalisys.
In addition, these assets achieved two milestones: a large number of companies added them to their balance sheets (MicroStrategy, Tesla, and Mercado Libre) and El Salvador incorporated Bitcoin as legal tender, a measure that Panama and other nations could imitate.
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