First, let’s go over the three major reasons why countries are incentivized to adopt Bitcoin as legal tender:
- They once experienced, are experiencing, or may experience hyperinflation.
- They do not have their own currency, and are thus under the economic control of a foreign country.
- They have a significant unbanked population.
- A large portion of their economy is composed of remittances.
Dependency on foreign countries, unbanked population, and remittances, as driving force. https://medium.com/geekculture/which-two-countries-are-most-likely-to-adopt-bitcoin-in-2023-9ed128697e4c
Hyperinflation as a driving force. https://www.techopedia.com/exploring-the-increasing-adoption-of-cryptocurrencies-in-hyperinflationary-economies#:~:text=Hyperinflation%20continues%20to%20be%20a,according%20to%20a%20Mastercard%20study.