Post
Topic
Board Bitcoin Discussion
Re: If Bitcoin was the currency of a country
by
Swordsoffreedom
on 11/05/2025, 15:03:45 UTC

 The only reason by most governments are beginning consider Bitcoin is due to it's ability to be used as a hedge against inflation, many countries back their fiat currency with Gold, so since Bitcoin is referred to as digital Gold, governments are now buying the idea of wanting to own it, else I don't think any government would've even embraced it if it didn't have such value and only seen as another form of money, cause they still want to be in control and Bitcoin won't give them the opportunity.

As far as I know, since the world agreed to abandon the gold standard proposed by the United States in 1971 and since then no national currency has been backed by gold.

Additionally, no country is currently considering or has specific plans to use bitcoin as a currency or as an inflation hedge. They still put their faith in gold as a hedge against inflation despite bitcoin's strong performance in recent years.

El Salvador took a bold step, their citizens should be happy concerning a government that sees a better future with the help of Bitcoin, their government a step that would gradually open the eyes of others to the potential of Bitcoin when it comes to strengthening a nation's economy and against inflation.

To strengthen a country's economy and fight inflation, it is not possible to rely solely on currency but requires drastic economic management.

El Salvador has been successful in controlling inflation, becoming the country with the lowest inflation rate in the region thanks to Nayib Bukele's economic policies such as exempting import duties on essential goods and food, or improve domestic security...It's all thanks to the genius of Nayib Bukele.