Suriname Presidential Candidate Promises to Adopt Bitcoin as National Currency

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Jimmy Aki

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Jimmy Aki

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Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, and Blockonomi, covering news...

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November 27, 2024 11:12 EST

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Maya Parbhoe, a presidential candidate in Suriname, has introduced a bold plan to adopt Bitcoin as the country’s national currency. This move comes as part of her strategy to combat the nation’s economic struggles, including high inflation rates and a history of corruption.

Suriname’s Push for Bitcoin Currency

According to Parbhoe’s plan, she intends to make Bitcoin legal tender if elected, inspired by El Salvador’s successful adoption of BTC.

She believes Bitcoin could replace the Surinamese dollar and sees El Salvador’s move as a beacon of hope for the future.

The Suriname dollar (SRD) has been plagued by inflation in recent years, reaching over 50% in the past three years. However, it is projected to stabilize below 20% in 2024, according to Statista’s data.

Despite this progress, Parbhoe believes that Bitcoin could serve as a more stable alternative to the traditional fiat currency.

She argues that Bitcoin adoption could provide much-needed economic freedom and stability, especially as inflation continues to affect the purchasing power of Surinamese citizens.

In addition to her plans for Bitcoin adoption, Parbhoe’s economic strategy includes the creation of the world’s first blockchain-based capital market. This innovative market would allow for the financing of projects through Bitcoin bonds, providing a new avenue for economic growth and investment in Suriname.

Parbhoe’s plan is more than just introducing Bitcoin as a currency. She also proposes a complete overhaul of the country’s financial system. Her proposal includes eliminating Suriname’s central bank, which has been in operation since 1957.

By doing so, she aims to allow for free currency competition, enabling citizens to choose the currency that best suits their needs.

Global Trends in Bitcoin Adoption

Suriname is not alone in its exploration of Bitcoin as a potential national currency.

Other countries have also looked at Bitcoin adoption as part of their economic reforms. El Salvador became the first country to make Bitcoin legal tender in 2021, a move that has sparked global interest.

Meanwhile, the United States is considering using Bitcoin as part of a national strategic reserve, reflecting the growing acceptance of Bitcoin as a legitimate store of value.

In Europe, Poland is another example of a nation that considers Bitcoin for its financial future. Slawomir Mentzen, the chairman of the Polish political party New Hope, has proposed establishing a Bitcoin strategic reserve for the country.

Mentzen’s ideas, which include using Bitcoin for municipal mining and storing currency reserves in Bitcoin, have gained traction in some political circles.

Brazil is another country that recently considered adopting Bitcoin reserves. Brazilian lawmaker Eros Biondini proposed the creation of a national Bitcoin reserve, with the allocation of up to 5% of Brazil’s $372 billion in international reserves to Bitcoin.