The political party that talks about the trend become an eye-catching political party in their nations because many news articles and channels publish their content or say on the internet worldwide. Bitcoin is already a popular coin and to know more you can visit here.
The announcement makes other people popular through various channels or platforms such as blogs, social media platforms, tv channels, radio, etc. And not even the political parties, the business that announces to accept this coin as payment has also gained popularity in their region, state, economy, or the globe.
So a Congressman said about something crypto that you will read further that will make him famous because there are a lot of articles published concerning it.
Who is Carlitos Rejala?
Rezala is a thirty-six-year-old politician and entrepreneur who gained hope in his country by announcing news about the legalization of cryptocurrency. At the age of fifteen, he left his home because of family problems and worked as a street vendor at sixteen. He is now the progressive member of deputies chamber and announced the following statements on his social media account and gained popularity.
Will bitcoin be legal tender in Paraguay?
Rajala announced bitcoin and other crypto legalization on his Twitter account on 17 September 2021. He claimed that if he is elected president by 2023 and wins the election, he will also make bitcoin and other cryptocurrencies legalized in Paraguay; after his tweet, many articles get published, and he gained hope in his country. He proposed to legalize these coins, as the president of Salvador has announced.
Most of the citizens in the world like the new currency (cryptocurrency) for payments, for investment, for online shopping, and different purposes, but in most countries, the government is against these coins because of their decentralized nature.
If any political party supported bitcoin and other cryptocurrencies, the users would be interested in those coins. There would be a high chance of winning the elections and getting famous.
El Salvador’s Legalization
Many news articles got published when the president of El Salvador announced the bitcoin legalization, and now every country knows about the president. It is only because of bitcoin or cryptocurrency. It is the first country to show bitcoin as a legal tender which means there is no difference between the dollars and bitcoin or other coins. No vendors in Salvador can say no to you to exchange goods and services in crypto coins.
So Rejala also wants to make bitcoin legal tender as the president of Salvador legalized it after winning the 2023 elections. It is difficult to say if he will win the elections, but there are chances because many people in Paraguay use bitcoin and other coins. If he wins the elections, it would be the second country globally that would make it legal tender.
Significant mining opportunity
Paraguay has significant mining opportunities because it has renewable energy resources for energy production. If the country legalized bitcoin or other cryptocurrencies, there would be no prevention of the mining process because of energy resources.
The Hydroelectric dam in Paraguay is the world's second significant dam that produces fourteen gigawatts (14GW) of power which means a hundred percent of energy in the country.
Most countries are banning or restricting bitcoin mining because it uses all the electricity from the country. If the mining process would take the power supply, how can citizens of the nation utilize it for their personal use?
China banned bitcoin mining because the miners of China touched 74% of hashrate by using the energy and became the first country with a high contribution to bitcoin mining. So after banning bitcoin mining in China, the U.S became a high contributor to bitcoin mining because many miners of China shifted to other countries.
So Paraguay also has a significant chance to mine bitcoin and make their country popular by legalizing crypto mining.
Suppose the Rezala wins the election for president in 2023. In that case, Paraguay will become the second country accepting crypto as legal tender and crypto mining hub because of high renewable energy resources that will not end.
Many countries do not prefer mining because they have limited energy resources that will end, but renewable energy cannot finish because it comes from natural resources.