After El Salvador, Mexico?

Is Mexico about to follow in El Salvador footsteps by embracing Bitcoin? That’s what Samson Mow proposed to the Mexican parliament.

Samson Mow leads the way

As the world polarizes between the BRICS and the West, the question of a new international currency to replace the dollar is on everyone’s lips.

Non-aligned nations would do well to adopt the Bitcoin Standard and go from bad to worse by adopting the yuan or the euro.

That’s the opinion of Samson Mow, Blockstream’s former chief strategy officer, who now advises states interested in bitcoin. Here’s the message he took to Mexican congressmen:

Bitcoin vs. Dollar

Let’s hope that these statements will find a favorable echo in Mexico as it was the case in El Salvador. This would not be a big surprise when we know the deep enmity the Mexican president has for the United States.

The world needs a new reserve currency. Yuan will become an international payment currency, but not a reserve currency. The reason is simple: the CCP does not want to liberalize its markets.

The dollar is the reserve currency par excellence thanks to its freely accessible debt market. One problem is that the Americans have abused this privilege and now owe the rest of the world $7 trillion.

Not to mention the fact that Washington and the EU have defaulted on $300 billion they owe Russia.

It is written in advance that China will not see the color of the 1000 billion dollars invested in US Treasury bonds. It is for no other reason that the Biden administration is trying to set the world on fire in Taiwan.

[This is also a way to force Taipei to transfer its semiconductor technology…]

On the other hand, no one can “freeze” or devalue bitcoin. Stateless, with an absolutely fixed and uncensored money supply, it is set to become the next international reserve currency.

Bitcoin bond

El Salvador is the first country to pass a law paving the way for the issuance of bitcoin bonds.

The plan announced as early as November 2021 is for El Salvador to raise $1 billion (in BTC) on Blockstream’s Liquid Network. These bitcoins will help build a bitcoin mining industry.

According to statements made at the time, Bitcoin bonds were expected to yield 6.5% per year (with El Salvador’s passport as a bonus).

Let’s hope that the French miner BBGS, already present in South America, will be able to contribute its know-how.

Adrien, DG de @BBGreenServices dirige notre nouveau chantier au #Paraguay 🇵🇾 et nous a envoyé ses premières photos/vidéo. Impressionnant! https://t.co/kkHuICJUkV

— Seb Gouspillou (@SebGouspillou) April 24, 2023

The Mexican president would be well advised to follow the example of the president of El Salvador Nayib Bukele. We should not be afraid to allow people to spend their BTC without restrictions.

Bitcoin is a currency/value store like any other. It does not threaten the banking system, which will always be indispensable for evaluating the relevance of investments and financing them.

The fact that bitcoin replaces $12 trillion in gold and $12 trillion in foreign exchange reserves can only be good for the world.