El-Salvador is taking the lead as the first country to adopt Bitcoin as a legal tender. Due to this adoption, some other governments started having more favorable dispositions toward cryptocurrency. However, this doesn’t go well with the regulators in some countries.
The Governor of the Central Bank of Mexico, Alejandro Diaz de Leon Carrillo, aired his view some days ago about the centralized adoption of Bitcoin and cryptocurrency in general. He also discussed the possibility of whether or not Mexico will take the path of El-Salvador.
In a Reuters report on Thursday, the Governor held quite different views on these issues. According to him, he likened Bitcoin to trade by barter. He based the argument on the fact that anyone trading Bitcoin in a P2P “is exchanging a good for a good, but not really money for a good,”
Therefore, he opines that Bitcoin is way behind fiat as it is more like bartering. He claimed Bitcoin would still need to evolve, just like bartering gave way for full-blown commercial transactions.
Having said that, he commented about the volatility of Bitcoin. This made him describe it to be a “high-risk investment.” Coinbench previously reported how the Bitcoin price dropped under $43,000 within hours recently.
Finally, he highlighted that Bitcoin is not a reliable store of value. He said it would be a bad way of paying workers as their salaries would not be stable.
However, it’s noteworthy that his views have generated a lot of comments and disagreements from cryptocurrency stakeholders.