The popularity and adoption of Bitcoin (BTC) and cryptocurrencies in general, are becoming more popular in the Baltic countries of Lithuania, Latvia and Estonia. Even buying coffee using BTC is not that special anymore in these countries. The adoption in these countries has gone as far as Cafes, bars, hotels, souvenir shops and even some medical clinics. There is also some incidents of Crypto being accepted for Real Estate purchases.
In Vilnius, Lithuania, there is a cottage settlement that accepts purchases of land and homes using crypto.
The same pattern is in the other two countries that make up the Baltics.
This news seems to be an addition to the increasing cases of Bitcoin (BTC) and cryptocurrency adoption around the globe. The most popular sporting event, the FIFA World Cup, that is being hosted by Russia starting June this year, has some businesses in the host nation, accepting crypto payments for accommodation. Apartments Malina in Kaliningrad, has partnered with the online payment system, Free-Kassa to allow fans to pay for rooms using crypto. Free-Kassa’s wallet even supports popular coins such as Dogecoin (DOGE).
Although no country around the globe has issued strict or defined cryptocurrency regulation guidelines, it is such adoption that will set the precedence of what regulation will entail. The more crypto is used for day to day purchases of goods and services, the more crypto’s utility as legal tender will be evident. With Venezuela having its own digital currency, the stage is set for more countries to embrace crypto as an alternative to their regular national currency. China and India have been rumored to be musing about doing their own version of a digital Yuan and Rupee respectively.
Looking at the markets, Bitcoin (BTC) is close to the $9,000 and trading at $8,935. This is still impressive if compared to last year’s value at a similar time. Back them, BTC was valued at $1,220. The current value is an impressive 633% jump in 12 months. Such performances are unheard of in regular stock trading. This then makes crypto markets very exciting with possibilities of massive gains if we HODL.
[Photo source, coincentral.com]
