In all the discussion of the Bitcoin price drop since last week, a few small but very important developments are being left out of the discussion such as people in Venezuela buying Bitcoin because their currency is hyperinflating and Turkey’s Bitcoin volume is going through the roof because the actions taken against it by the United States. We have to realize that most of the world is not first world countries like the US or Great Britain. There are billions of people in the developing world whose countries’ currencies are not stable and several countries’ residents have already turned to Bitcoin as a more stable coin than their country’s money. If this adoption continues, Bitcoin may not even need any institutional adoption or ETF to thrive in the future as it could represent a more stable and borderless form of currency for the 3rd world to use.
