Dr. Ammous claims Bitcoin could help El Salvador get out of debt.
Dr. Saifedean Ammous, author of the Bitcoin-related book "The Bitcoin Standard," has been named the National Bitcoin Office of El Salvador Economic Advisor.
Dr. Ammous joined the El Salvadoran Bitcoin Office on May 30th, bringing his expert advice to bear on economic policies.
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Expressing his enthusiasm for this new chapter, Dr. Ammous tweeted:
Thrilled, honored and excited to start working with the Bitcoin Office in the first country to adopt a bitcoin standard!
The economist then discussed the significance of Bitcoin in an interview with the local news outlet Diario El Salvador. During the interview, the man claimed that Bitcoin allows entities to have a grip on a "strong asset that doesn't depreciate over the years."
On top of that, Dr. Ammous shared his views claiming that if El Salvador will continue on the same path in five years, the country could be debt free.
If you continue to accumulate Bitcoin for the next five years, there is a good chance that El Salvador will be debt free.
The National Bitcoin Office reported that Dr. Ammous began his role with vigor. He recently traveled to El Salvador to deliver lectures for a local initiative focused on nurturing Bitcoin and Lightning Network developers, dubbed CUBO+.
Furthermore, he had an insightful discussion with President Nayib Bukele about the significant benefits of economic liberty policies.
Interestingly, Dr. Ammous has chosen to forego any compensation for his advisory role, expressing his desire to support President Bukele's progressive Bitcoin policy without personal gain.
His critically acclaimed book, 'The Bitcoin Standard,' published in April 2018, provides an insightful look into the history of money, tracking civilizations' changes alongside shifts in monetary systems. It also critically analyzes the transition from solid stores of value to inflated assets and fiat currencies.
The National Bitcoin Office, created in November 2022 by President Bukele, stands as a testament to El Salvador's forward-thinking approach to cryptocurrency.
With the appointment of Dr. Ammous, the Office is set to gain fresh insights and expert guidance on economic policies related to crypto-assets, solidifying the nation's position as a pioneer in the world of digital currencies.
In other El Salvador-related news, the country has recently given a digital asset service provider (DASP) license to Bitfinex Securities El Salvador.
