Since El Salvador adopted bitcoin as legal tender, President Nayib Bukele has been a vocal proponent, citing its adoption as a benefit for all Salvadoreans.
This week, the charismatic leader continued his efforts, attempting to orange-pill central bankers and financial ministers from 44 countries:
Meeting to Discuss Bitcoin
According to a tweet from Bukele, who regularly buys the dip, the president hosted a meeting this week with 32 central banks and 12 financial authorities “to discuss financial inclusion, [the] digital economy, banking the unbanked, the Bitcoin rollout and its benefits in our country”.
The meeting involved representatives from Paraguay, Nigeria, Angola, Ghana, Namibia, Uganda, Republic of Guinea, Madagascar, Haiti, Burundi, Gambia, Honduras, Madagascar, Bangladesh and Maldives.
‘Gradually, Then Suddenly’
An opt-repeated hypothesis for global Bitcoin adoption is how Ernest Hemingway described going bankrupt – “gradually, then suddenly”.
Noting that attendees to the meeting were those who seemingly benefited least from the current financial system, commentators quickly started speculating as to how things could play out.
Derek Ross of Swan Bitcoin envisioned the possibility of bitcoin-denominated trade:
I’m just sitting here imagining what would happen if even 1/4 of these countries decided to establish trade and commerce between one another denominated in Bitcoin. I hope all 44 do, but even 11 would be incredibly wild and change the entirety of the world. 🧡🇸🇻
— Derek Ross ⚡ (@derekmross) May 16, 2022
Others zoomed out, looking at the potential impact on US dollar hegemony, and how supranationals such as the International Monetary Fund would take to the news (hint – badly):
we like it!
make the @IMFNews sweat,it is inevitable for #bitcoin adoption to take hold in these resource rich nations & many more as the US $fiat swift hegemony continues to break & blackmail traps, WB loans, economic hitmen shall not prevail this time..https://t.co/taYygTZVCP— BOT named Q (@kani_x_) May 13, 2022
Quite the list 👀
If the historic victims of colonialism flippen “Western” powers in wealth via #Bitcoin adoption, that will:
-Happen suddenly
-Result in a global awakening/nation state level ego death
-Cause bloodshed
-Thrust highly consequential decisions upon the US…— no₿ody (@satskeeper) May 16, 2022
In response to the news, OG Bitcoiner Simon Dixon put out an “emergency broadcast” to his subscribers to share his thoughts. After providing a compelling account of financial history and how we arrived at the modern fiat monetary system, Dixon went on to describe the El Salvador meeting as a potential “Bretton Woods of Bitcoin” moment:
At this early stage, it’s too soon to tell what the policy ramifications from the meeting are likely to be. Chances are, however, that they will be significant.
Disclaimer:
The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.
Credit: Source link
