> Bitcoin also has the backing of a government - El Salvador. A government backed currency means the government can issue that currency (for better or worse).

> Bitcoin also has the backing of a government - El Salvador. A government backed currency means the government can issue that currency (for better or worse). Bitcoin is legal tender in El Salvador, as is the US Dollar[1]. The US dollar is also legal tender in Zimbabwe and other countries. We don't say the US dollar is backed by El Salvador or Zimbabwe. Instead it is backed by the "full faith and credit of the United States". [1] https://www.investopedia.com/articles/forex/040915/countries-use-us-dollar.asp https://www.investopedia.com/articles/forex/040915/countries...