The Bitcoin and altcoin space never ceases to have new entries. From giant firms to government-back institutions and celebrities all joining the party, it’s no gain to say that the world has yet to witness the full-blown potential of crypto.
Today, the latest entrant into the crypto-world is a prominent and controversial former batsman from England, Kevin Petersen.
Petersen’s declaration of his closeness to joining the Bitcoin world means he would be following the order of Shoaib Akhtar, an ex-Pakistani cricketer who launched the world’s first cricket-centric NFT marketplace only last week.
The interest of the high-profile ex-internationals in the digital assets is proof of the cricket world’s gradual delve into the crypto charming world.
On his Twitter handle on Monday, Kevin Pietersen conveyed that after a fruitful discussion with McCormac, he’s “getting closer & closer to joining the #bitcoin world.”
— Kevin Pietersen? (@KP24) June 28, 2021
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El Salvador’s Influence
Recall McCormack, host of one of the most famous cryptocurrency podcasts globally, lately hosted El Salvador President Nayib Bukele.
The event was basically to discuss the use of Bitcoin as a legal tender in the country. El Salvador this month became the first country to approve Bitcoin as legal tender, a policy earmarked to take full effect in September 2021.
While being interviewed on Wednesday during the discussion, the El Salvador president revealed that putting such faith in the digital currency was to drive in job opportunities and economic development to the Central American nation.
Despite the World Bank’s refusal to grant the country the requested technical support and expertise, Bukele reiterated his confidence, saying the policy would be productive.
The Arguments Against Bitcoin
The International Monetary Fund (IMF) had expressed some concerns about the policy, which the small American nation had reached out to the World Bank for help.
However, the World Bank turned down the request to help policy implementation given the environmental and transparency shortcomings of the digital asset.
Bitcoin adoption for payment has been for some time now a subject of discussion on transparency and environmental impact.
In fact, the issues have led to the crash of the digital asset for about two weeks now when Elon Musk announced that Tesla would no longer accept Bitcoin (BTC) as payment because of its environmental impact.
Bitcoin Price Fall
The declaration has since plummeted its price, losing 15% in value in less than 24 hours. Nonetheless, the tech tycoon gave a green light, tweeted something rather favorable that sent the bitcoin price bouncing again by almost 5% in a matter of seconds.
However, it is unknown whether the recent rise or so-called “green light” given by the Tesla boss is also a major boost that has animated interest in the Bitcoin industry.
However, no doubt given the chain of events that have followed El Salvador’s breakthrough, the latest announcement by sports personalities like Pietersen on his journey into the crypto world is not unconnected.
In a few weeks from now, we expect more celebrities to be influenced by his announcement: venturing into the wild world of Bitcoin.
Featured image from Pixabay, Charts from TradingView.com