The Bitcoin Standard Economist Saifedean Ammous Becomes an Economic Adviser to El Salvador
El Salvador has made history by appointing Saifedean Ammous, the renowned author of The Bitcoin Standard, as its new economic adviser. The world is now watching how this Bitcoin-friendly economist will help this tiny Central American country achieve its ambitious economic goals.
‘Match Made in Heaven’
Ammous’ best-selling book The Bitcoin Standard was published in 2018, analyzing the evolution of money and how it has changed over time. As an ardent supporter of Bitcoin, he seems to be a designated advisor for El Salvador, where Bitcoin has become legal tender. Ammous believes that Bitcoin’s strength lies in its ability to protect against depreciation. He thinks that if El Salvador continues to accumulate Bitcoin for the next five years, the country could be debt-free. His collaboration with El Salvador appears to be a match made in heaven.
El Salvador and Its Bitcoin Ambition
When El Salvador became the first country ever to adopt Bitcoin as legal tender in 2021, it gained worldwide attention. The gamble it took has paid off. The country has done well so far, and its President Nayib Bukele is a vocal Bitcoin advocate.
El Salvador has gone all-in on Bitcoin. For instance, it’s pioneering educating people about Bitcoin. Since Bitcoin adoption is voluntary, people must know what the fuss is about and how it works. Early this May, the government announced the removal of all taxes on technological innovation. This move is expected to be a significant booster for the economy.
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The appointment of Ammous as El Salvador’s economic advisor is a bold move that will undoubtedly benefit the country. He is a respected economist who has already made remarkable contributions to the world of finance with his book. As the first country ever to adopt Bitcoin as legal tender, El Salvador is already rewriting the rules of money. We can only wait and see what new chapters in monetary history it will write in the future.