El Salvador Economic Advisor

Author of ‘The Bitcoin Standard’ Becomes the Economic Advisor of El Salvador

El Salvador is a phenomenal nation when it comes to cryptocurrency as it is the only nation to accept Bitcoin as a legal tender. Now the country has taken another bold move by appointing Dr Saifedean Ammous, the author of a famous book on Bitcoin known as “The Bitcoin Standard” as the economic advisor of the country. Saifedean believes that El Salvador can be completely debt free if it stores up Bitcoin for the next five years.

Advisor to Work for Free

This was officially announced on May 30. Dr Saifedean said that he is excited to work in a country which is the first one to adopt Bitcoin. He also added that it is a good idea to use Bitcoin as its value does not depreciate over the years. It is said that Saifedean will work as a remote advisor to President Nayib Bukele.

The National Bitcoin Office of El Salvador said that Dr Saifedean will work for free as he has requested not to be paid. Last year, the president formed The National Bitcoin Office under the guidance of prominent Bitcoiners Max Keiser and Stacy Herbert. The office deals with all matters that are related to cryptocurrency. 

Ammous recently participated in CUBO+, a developmental program in El Salvador that aims to educate Salvadorans about Bitcoin’s technical aspects. In an interview with Diario El Salvador, Saifedean expressed his positive views on the initiative, stating that he considers it a valuable undertaking as he believes that acquiring skills in Bitcoin programming will benefit young individuals which can enhance their prospects in the future.

El Salvador is an exceptional nation in Bitcoin adoption. The country also launched Bitcoin bonds last year.

Caleb Strickland

Caleb Strickland

I have over 10 years of experience in the cryptocurrency industry and have been writing about it for the past 5 years. I have a vast amount of knowledge on the topic and my articles are always well researched. I have a knack for making complex topics easy to understand, which makes me a great resource for those new to the space.

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