As the world around us seemingly becomes more and more fragile and uncertain, one thing for sure is that the thesis of nations embracing Bitcoin is starting to play out — and for some that’s…terrifying.
Why the IMF thought it would be a good idea to probe Bukele is beyond me. I mean, aside from the fact that it shows complete disregard for how weak it makes them seem, to care enough that a country smaller than the state of Massachusetts is trying out a new monetary experiment, they set Bukele up to dunk on them on Twitter for the whole world to see:
AFP News Agency @AFP
#BREAKING IMF urges El Salvador to remove Bitcoin as legal tender https://t.co/QGnN5aoHMtlol. I love this space.
I can’t find anything to substantiate the tweet above from Zerohedge but I wouldn’t be surprised. I know so many (relatively) wealthy people that have gone to visit El Salvador recently and some that haven’t come back. They’ve all told me that the vibe was incredible and there was this feeling of energy that they couldn’t really put their finger on - some are even looking at purchasing real estate. We’re also close to a company with boots on ground who is building out lightning payments infrastructure that has seen adoption and usage skyrocket since Bitcoin became legal tender. I can’t call myself a pilgrim just yet but I promise to report back when I head down there at some point this year.
Here we go…a day after the IMF urged El Salvador to drop BTC as legal tender, the White House linked crypto to a matter of national security. Damn, those are some big words. Bitcoin and the broader crypto market (in my opinion, the only true “free market”) is certainly occupying a lot of headspace for world leaders these days. So much so that one starts to wonder why? Why is it that in times where the “system” has never felt so untrustworthy, uncertain, unsafe, unpredictable really, magic internet money is anywhere near the top half of their totem pole of things to care about?
Maybe because Bitcoin works. It’s in the hands of too many people, globally; it’s too decentralized; they missed their chance to kill it over a decade ago and they’re starting to come to grips with the fact that the train has left the station and there’s nothing they can do about it.
Maybe the leaders of this free world are afraid of losing a little control.
Maybe they’ve already lost it.
Why would the IMF be so scared of the smallest country in Central America adopting Bitcoin at legal tender? What if it works? What if another country does it…then another…they might see El Salvador as the first domino to fall. They’d be right.
As they say: first they ignore you, then they laugh at you, then they fight you, then you win.
In case you missed it (notice a trend?):
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