{"id":28488,"date":"2023-06-28T03:13:30","date_gmt":"2023-06-28T07:13:30","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/el-salvador-is-beachhead-in-bitcoin-battleground\/"},"modified":"2023-06-28T03:13:32","modified_gmt":"2023-06-28T07:13:32","slug":"el-salvador-is-beachhead-in-bitcoin-battleground","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=28488","title":{"rendered":"El Salvador Is \u2018Beachhead in Bitcoin Battleground\u2019"},"content":{"rendered":"
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The JAN3 CEO Samson Mow has claimed that El Salvador can serve as a \u201cbeachhead\u201d in the battle for global Bitcoin (BTC) adoption \u2013 and suggested other LATAM nations could \u201ceasily\u201d follow the country\u2019s lead.<\/p>\n

El Salvador adopted BTC as legal tender in 2021, under the leadership of its Bitcoin-keen President Nayib Bukele.<\/p>\n

In an interview with Swan<\/a>, Mow conceded:<\/p>\n

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\u201cThere\u2019s no easy solution to get a million people ramped up about Bitcoin.\u201d<\/p>\n<\/blockquote>\n

But he said:<\/p>\n

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\u201c[People] are definitely looking at El Salvador.\u201d<\/p>\n<\/blockquote>\n

He said that the nation was a \u201cbeacon that we can point to\u201d that \u201copens the door for things we can do in other countries.\u201d<\/p>\n

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Could Other Nations Also Adopt Bitcoin as Legal Tender?<\/h2>\n

The CEO suggested that other countries could look to follow suit with El Salvador, and named Guatemala as one such nation.<\/p>\n

Mow said Guatemala \u201ccould adopt Bitcoin in an instant\u201d due to the fact that its legal system allows the use of foreign currencies as a form of payment.<\/p>\n

The JAN3 boss talked of El Salvador as a foothold for Bitcoin recognition, but admitted Bitcoiners still \u201cneed more countries to adopt\u201d the coin.<\/p>\n

Telling people that \u201cBitcoin is money\u201d gets them to understand the token quicker than efforts to promote its status as a \u201ccommodity,\u201d Mow said.<\/p>\n

Mow explained:<\/p>\n

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\u201cWe have a beachhead. El Salvador is a small foothold, and we need more of these. Because [\u2026] the powers-that-be want to roll out CBDCs [central bank digital currencies].\u201d<\/p>\n<\/blockquote>\n

Mow said Bitcoiners needed to \u201cfight and counter\u201d CBDC advances \u201cwith BTC,\u201d the \u201conly\u201d tool that can effectively \u201ccounter\u201d the advance of digital fiats.<\/p>\n

The CEO also opined that BTC could be a \u201cgodsend\u201d for countries with geothermal and hydroelectric power resources.<\/p>\n

Such countries could mine crypto to become \u201ca rich nation\u201d in the vein of \u201cSaudi Arabia or the UAE.\u201d<\/p>\n

In his Twitter bio, Mow currently describes himself as \u201cworking on nation-state Bitcoin adoption.\u201d<\/p>\n

A growing number of international Bitcoiners have teamed up with the Salvadoran government of late.<\/p>\n

In recent years, these have included the likes of Ricardo Salinas Pliego, one of the richest men in Mexico and a notable BTC bull.<\/p>\n

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Bitcoiners Max Keizer and Stacy Herbert are now running the Salvadoran National Bitcoin Office.<\/p>\n

And late last month, the government appointed Saifedean Ammous, the author of \u201cThe Bitcoin Standard,\u201d as the same office\u2019s economic advisor.<\/p>\n<\/p><\/div>\n