Plausibly Exogenous [829] - Bitcoin (04/26/2022)

LHS Variable
Adoption of cryptocurrency as medium of exchange

RHS Variable
Government policy

Source of Exogenous Variation
In September 2021, El Salvador became the first country in the world to make bitcoin legal tender, and all economic agents were required to accept bitcoin for all payments

- Alvarez, Argente, and Van Patten (2022), “Are Cryptocurrencies Currencies? Bitcoin as Legal Tender in El Salvador”