The bitcoinization of El Salvador continues – On September 7, 2021, central bankers and big supranational fundraisers like the IMF went into a blackout when they saw Bitcoin becoming legal tender in El Salvador. Since then, the adoption of cryptocurrencies has continued to progress in the small Central American country. Salvadoran President Nayib Bukele intends to continue on this path, by surrounding himself with a new expert in the crypto sector: Saifedean Ammousthe author of the book “The Bitcoin Standard”.
The author of “The Bitcoin Standard” becomes economic advisor to El Salvador
Since 2021, the salvador never stoppedintegrate bitcoin and crypto-assets to its economy, attracting the black anger of international organizations. In recent days, the Dr Saifedean Ammous traveled to the Central American country. In particular, he gave a lecture to the students of the program CUBO+. It is a Salvadoran education program that aims to train developers of Bitcoin and its Lightning Network.
But as one reveals tweet published by theNational Bitcoin Office of El Salvador this May 30, 2023, the author of “The Bitcoin Standard” was also called by the president Nayib Bukele for more lasting help. Saifedean Ammous has indeed been named economic advisor with this National Office of the king of cryptos.
“When the author of ‘The Bitcoin Standard’ met with the leader of BitcoinCountry [la Nation Bitcoin], great things were about to happen. We are happy to announce that Saifedean Ammous is joining us as an economic advisor to the National Bitcoin Office of El Salvador. Welcome to the winning team, Dr Ammous! »
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A strengthened team of crypto experts to develop the Salvadoran economy
The National Office of BTC specified that this economist, follower of the Austrian school, would be “an excellent complement” to President Nayib Bukele’s team of crypto advisors.
The role of the expert will be to give advice on “issues related to various economic policies”. It will also help the Salvadorian government to ensure the economic freedom citizens of the country, in particular via thebitcoin education.
It should also be a valuable aid concerning the future issuance of volcano leaps (also called Volcano tokens): government bonds precisely based on the most valued of crypto-assets.
Indeed, at the beginning of the year, the Parliament Salvadoran a adopted the Bukele government’s plan to “law on the issuance of digital assets”. The small (but strong) Salvador should thus be able to do without the blackmail of the International Monetary Fund to raise $1 billion with its bitcoin-based bonds. The IMF had indeed threat (and since then carried out his threat) not to lend this sum to the Central American nation, if she did not give up bitcoin as currency. More and more futile threats.
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