Argentina and Corporations Follow El Salvador in Bitcoin Adoption

Bitcoin, invented by Satoshi Nakamoto, represents a decentralized form of currency, eliminating reliance on governments or financial intermediaries. With a cap of 21 million bitcoins, the cryptocurrency’s absolute scarcity is what makes adopting BTC as a savings tool so appealing.

We’re witnessing an increasing number of individuals, but now companies and even countries are following suit.

Negotiations Between Argentina and El Salvador In 2021, El Salvador became the first country in the world to adopt Bitcoin as legal tender. This was a significant development, and now another major name could be added to the list: Argentina.

In Argentina, Javier Milei, a libertarian president-elect, has shown potential interest in Bitcoin. Theoretically, for advocates of the free market, Bitcoin represents the ideal form of currency.

It’s no surprise, then, that an Argentine delegation discussed with Juan Carlos Reyes, the chairman of El Salvador’s National Digital Assets Committee.

What was the outcome? The conversation revolved around El Salvador’s decision to adopt Bitcoin as legal tender. The Argentine delegation reported exploring the possibility of forming a cooperation agreement with El Salvador.

They also referred to El Salvador as a “pioneer” in the field of cryptocurrency assets. Meanwhile, El Salvador has successfully accumulated about $400 million worth of Bitcoin. Will Argentina follow suit?

A US Healthcare Company Invests $40 Million in Bitcoin Unfortunately, we cannot yet answer this question. What we do know is that Semler Scientific ($SMLR) is another US-listed company that has adopted Bitcoin as its primary reserve asset.

Semler Scientific Embraces Bitcoin

Semler Scientific ($SMLR) announced the adoption of #bitcoin as its primary reserve asset.

As a first step, the company purchased 581 bitcoins for $40 million

These are the kinds of developments that Bitcoin growth needs. The coolest part is that it’s not…

— Thom Derks (@Thom_Derks) May 28, 2024

What’s special about this move is that it’s not a Bitcoin company. Most publicly traded companies with Bitcoin on their balance sheets are actually companies that do something with Bitcoin.

Tesla and MicroStrategy (and perhaps Block) are certainly the biggest exceptions. But now, a group from the medical field has joined Semler Scientific, immediately purchasing $40 million worth of Bitcoin.

In terms of adopting Bitcoin, this is a significant step in the right direction.

Sentiment: Positive