Bitcoin Daily: Panama Eyes Making Bitcoin Legal Tender; Standard Chartered Predicts Bitcoin to Double in Value by 2022

Panama may become the next country to make digital currency official for everyday use if a bill proposed by Congressman Gabriel Silva is passed, BeInCrypto reported. The bill would make bitcoin a national alternative payment method.

On Twitter, Silva said the “Crypto Law,” as he called it, would be used to “make Panama a country compatible with the blockchain, crypto assets and the internet,” the report stated.

“This has the potential to create thousands of jobs, attract investment and make the government transparent,” he said, per the report.

If passed, the bill would make it so any civil or commercial operation could use crypto unless there was some reason they could not, according to the report.

In other news, Standard Chartered’s cryptocurrency research team has rolled out predictions that bitcoin could hit $100,000 by early 2022, Reuters reported.

Bitcoin, the team said, could be worth around $175,000 in the long term, according to the report. Ethereum, too, could see a rise in worth, possibly hitting $26,000 to $35,000, but only if bitcoin hits $175,000.

“As a medium of exchange, bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world,” said the unit, which is headed by Geoffrey Kendrick, per Reuters.

Meanwhile, pop star Doja Cat has launched her first nonfungible token (NFT), through Quincy Jones-backed environmentally friendly music NFT platform OneOf, Hypebot reported.

The first drop, called Planet Doja, was unveiled Wednesday (Sept. 8), according to the report. It includes 26,000 limited edition collectibles starting at $5, along with other bonuses, such as tickets to upcoming concerts.

There will be other drops the following two days that will include rarer tokens, which will come with guaranteed VIP tickets, the report stated. And there will be the “OneOf” tier, which is a single token for auction only.