The State of Lightning One Year After El Salvador’s Bitcoin Adoption

Michael Peterson, the founder of Bitcoin Beach, the circular Bitcoin economy that inspired El Salvador President Nayib Bukele to adopt bitcoin nationally, told Bitcoin Magazine that this is “all about perspective.” “Most negative stories claim [Bitcoin payments adoption] is about 20% and paint that as failure. If a country outside of El Salvador had even 5% of businesses accepting BTC, we would be thrilled,” he said.“I think the level of adoption as a medium of exchange is pretty extraordinary. As the saying goes, people overestimate what can be accomplished in a year and underestimate what can be accomplished in 10 years. I think 10 years from now it will be hard to find anyone who remembers being a critic,” he added.

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