Following Republic of el salvador'southward historic adoption of Bitcoin (BTC) as legal tender on Tuesday, Cardano founder Charles Hoskinson predicted that a lot more than countries will eventually follow in the Latin American nation's footsteps.

El salvador's Bitcoin acceptance further legitimizes the belief that people should be in control of their money, Hoskinson said in his "Congratulations Bitcoin" YouTube video on Tuesday.

The Cardano founder expressed confidence that cryptocurrencies like Bitcoin are the hereafter of money equally the younger generation volition inevitably trigger mass adoption of crypto. "The bulk of people under the age of 25 accept a positive view on cryptocurrencies, and a lot of them own them. That'south the future. Their children will abound upward with those values and those behavior about the nature of coin," he said.

Hoskinson farther predicted that more countries all over the globe will move into the cryptocurrency industry past accepting crypto as part of diverse authorities structures, stating:

"In the coming years, many more nation-states will use crypto as part of their monetary policy, either as reserves in their key banks or using cryptocurrency rails for central bank settlements, [...] or potentially only simply taking a cryptocurrency — as El Salvador has done — and make information technology the national currency."

Related: Republic of Panama introduces bill for regulating crypto

Hoskinson is not lonely in thinking that El salvador's Bitcoin adoption volition eventually push more countries to dive into crypto:

On Tuesday, Sept. vii, El Salvador officially became the first land in the world to accept Bitcoin equally the official currency, requiring all local merchants to have Bitcoin as a means of payment. Bitcoin subsequently experienced a major flash crash, with its price plummeting from around $52,000 to as low as under $43,000 on Tuesday.