Bitcoin presents an alternative for transactions, yet most nations do not recognize it as legal tender, leaving the economic consequences of its widespread use uncertain. Only two countries, El Salvador and the Central African Republic, have embraced Bitcoin as legal tender. El Salvador's crypto treasury has seen a $58 million profit, with the World Bank Group noting positive economic growth since 2021. Investment researcher Lyn Alden believes Bitcoin adoption could have significant positive impacts, but the current debt-based monetary system may need restructuring. While some countries like El Salvador have embraced Bitcoin, challenges remain in integrating it into the global financial system. The potential adoption of Bitcoin by the US could have far-reaching implications, impacting global stability and the dominance of the US dollar. Central bank digital currencies (CBDCs) are also gaining traction worldwide. Overall, mainstream adoption of Bitcoin as legal tender could bring about true asset ownership and economic growth. Read more AI-generated news on: https://app.chaingpt.org/news