Should Argentina Follow El Salvador and Offer Bitcoin Bonds?

JAN3 CEO Samson Mow says Argentina should offer the bonds Bitcoin and switch to using BTC as legal currency.

Mow suggested that Argentina’s Bitcoin bonds could raise capital for other income-generating activities, the proceeds of which could be used to pay the bonds’ coupons and buy more Bitcoin.

Bitcoin bonds in Argentina?

Mow believes that too Bitcoin could be gradually incorporated into a national currency that would replace the peso. Weight gain rapid devaluation due to a tangle of policies that failed to stabilize its value. He advises switching from pesos to dollars and then from dollars to Bitcoin.

Also Cree that you like SaviorArgentinians can minar Bitcoin using relatively cheap natural gas and Energy from unused hydroelectric sources:

“Because Argentina has a lot of energy, it can just minaret Bitcoin. That is, buy Bitcoin with electricity.

Up to now, Mow has not spoken to Argentina’s leaders about the possibility Bitcoin bonds in the country however, it played a vital role in the development of El Salvador’s Bitcoin bond issue.

El Salvador Bitcoin Mine using geothermal energy formed by the volcanic activity of the Conchagua Volcano in the Gulf of Fonseca.

The launch of El Salvador’s program took a step in the right direction yesterday after the president’s representative publish the draft law A presidential bill to create a legal framework for bonds has been introduced to lawmakers.

HODLing Bitcoin

From accepted Bitcoin as legal tender in September in 2021faced by Salvadoran President Nayib Bukele response International Monetary Fund and rating agency Moody’s, which said this the country’s Bitcoin operations have increased their risk profile. The country also faced technical issues with the Chivo wallet.

Exchange Paxful and the University of Palermo organize Bitcoin lectures in Argentina

But despite the setbacks, Bitcoin payments have grown in popularity and are accepted in hotels, restaurants, pool halls and even street vendors. A smaller seller may have Bitcoin, while larger companies use it as a trading strategy. marketing.

Bitcoin BTC

On the other hand, Argentines have traditionally viewed the US dollar as a safe long-term asset. But that strategy was disillusioned with the government. They limit dollar purchases to $200 and they charge high fees for dollar transactions.

In spite of him volatility, Argentinians are now choosing Bitcoin over pesos and dollars. Based on 2022 August. According to a New York Times article, about a third of Argentines trade cryptocurrencies At least once a month. easier to find to cope with the short-term volatility of Bitcoin than with the devaluation of the national currency.

BTC is not the problem, say Bitcoin believers

The recent collapse about exchange Criminal charges against cryptocurrency developer FTX and its former CEO Sam Bankman-Fried have put the spotlight on whether cryptocurrencies like Bitcoin are a problem or whether the collapse is simply a matter of irresponsible business practices.

Los maximalist Bitcoin as MicroStrategy CEO Michael Saylor, quickly distanced themselves Bitcoin de la situación de FTX, claiming that unlike most cryptocurrencies exchangeBitcoin is a commodity, not a value.

Also, Saylor says you don’t need an emitter. It is also necessary that it is in the hands of someone other than the owner.

in 2022 November 17 In an interview with CNBC, Strike CEO Jack Mallers, said that the FTX saga was “nothing short of an absolutely heinous and malicious crime.”

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