El Salvador Serves as a ‘Beachhead’ in Bitcoin Battleground, Says Samson Mow
The JAN3 CEO Samson Mow has claimed that El Salvador can serve as a “beachhead” in the battle for global Bitcoin (BTC) adoption – and suggested other LATAM nations could “easily” follow the country’s lead.
El Salvador adopted BTC as legal tender in 2021, under the leadership of its Bitcoin-keen President Nayib Bukele.
In an interview with Swan, Mow conceded:
“There’s no easy solution to get a million people ramped up about Bitcoin.”
But he said:
“[People] are definitely looking at El Salvador.”
He said that the nation was a “beacon that we can point to” that “opens the door for things we can do in other countries.”
Samson Mow explains how El Salvador is the beachhead for global nation-state #Bitcoin adoption. pic.twitter.com/BbzOiL7iUe
— Swan.com (@Swan) June 26, 2023
Could Other Nations Also Adopt Bitcoin as Legal Tender?
The CEO suggested that other countries could look to follow suit with El Salvador, and named Guatemala as one such nation.
Mow said Guatemala “could adopt Bitcoin in an instant” due to the fact that its legal system allows the use of foreign currencies as a form of payment.
The JAN3 boss talked of El Salvador as a foothold for Bitcoin recognition, but admitted Bitcoiners still “need more countries to adopt” the coin.
Telling people that “Bitcoin is money” gets them to understand the token quicker than efforts to promote its status as a “commodity,” Mow said.
Mow explained:
“We have a beachhead. El Salvador is a small foothold, and we need more of these. Because […] the powers-that-be want to roll out CBDCs [central bank digital currencies].”
Mow said Bitcoiners needed to “fight and counter” CBDC advances “with BTC,” the “only” tool that can effectively “counter” the advance of digital fiats.
The CEO also opined that BTC could be a “godsend” for countries with geothermal and hydroelectric power resources.
Such countries could mine crypto to become “a rich nation” in the vein of “Saudi Arabia or the UAE.”
In his Twitter bio, Mow currently describes himself as “working on nation-state Bitcoin adoption.”
A growing number of international Bitcoiners have teamed up with the Salvadoran government of late.
In recent years, these have included the likes of Ricardo Salinas Pliego, one of the richest men in Mexico and a notable BTC bull.
El Salvador partnership to build $1 billion bitcoin mining farm https://t.co/1sfjB1NLo7 pic.twitter.com/hjcBvnrdcK
— Reuters (@Reuters) June 5, 2023
Bitcoiners Max Keizer and Stacy Herbert are now running the Salvadoran National Bitcoin Office.
And late last month, the government appointed Saifedean Ammous, the author of “The Bitcoin Standard,” as the same office’s economic advisor.
