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The Republic of Honduras may recognize bitcoin as legal tender.

Various internet sources say Honduras could be the next country to officially recognize Bitcoin (BTC) as legal tender, after El Salvador.

Officially the Republic of Honduras, formerly known as Spanish Honduras, is a country in Central America.

The 56th President of the country, Iris Xiomara Castro Sarmiento said:

“We must not allow El Salvador to be the only country free from dollar hegemony!”

It is a member of freedom and re-establishment, considered socialist and anti-capitalist. Also, Bitcoin adoption is still early. She hopes that this measure will lead to a positive development.

“Honduras has the right to develop towards the first world!” – Castro added.

The announcement by the President of Honduras was made on the morning of Monday, March 21.

The Central American country is following a pattern of the strong interest in cryptocurrencies. Sources reported in August 2021 that Honduras had previously introduced its first Bitcoin and Ethereum ATM in the capital, Tegucigalpa, allowing users to purchase digital assets with the local currency lempira.

Notably, prominent crypto advocate Max Keizer, who has spent time in and around the area, tweeted the flag of Honduras on March 18, hinting that something is indeed possible will happen there soon.

In a survey on CoinMarketCap, only 3057 people bet on this small country, taking only 40th place.

Predict Cryptocurrency Next Country/Region as a Legit Contractor - Source: Coinmarketcap
Predict Cryptocurrency Next Country/Region as a Legit Contractor – Source: Coinmarketcap

The first country in the world to accept Bitcoin as legal tender was El Salvador, doing so in the fall of 2021, despite research showing a general lack of trust in the digital asset.

At the time of writing, the Bitcoin price stood at $42,660, up to $3,620 from seven days earlier, when it was trading at $39,040.

BTC/USD Daily Chart – Source: Investing.
BTC/USD Daily Chart – Source: Investing.