Politicians in Latin America join the Bitcoin wave

Bitcoin Latin America Economy

Politicians across Latin America are beginning to publicly declare their support for Bitcoin, inspired by Nayib Bukele’s announcement.

For years, Latin America has been one of the most important regions for the crypto world. With countries like Venezuela and Argentina being one of the main cryptocurrency markets worldwide. And now, this interest in crypto assets seems to be growing rapidly. Well, after the announcement by the President of El Salvador, Nayib Bukele, politicians in Latin America join the Bitcoin wave.

Latin America Bitcoin territory

Nayib Bukele has always been a controversial political figure, essentially due to his personalistic style of government. However, until now it had not caught the attention of the crypto community. This changed with his announcement in recent days that he will push for a law to make Bitcoin legal tender. What would make El Salvador the first country to take this measure in Latin America and the world.

If this proposal finally comes to fruition, Salvadoran businessmen would be forced to accept payments in Bitcoin for their products. This could represent an attempt by the government of El Salvador to reduce the country’s dependence on the US dollar, the country’s official currency today.

However, beyond the political reasons behind Bukele’s decision. The truth is that the movement of the Salvadoran President, who even put the famous “laser eyes” on his profile photo on Twitter, has awakened a real movement in Latin America, with politicians in countries such as Paraguay, Argentina and Brazil taking a step up front, announcing their support for cryptocurrency. What Anthony Pompliano commented:

A politician from Brazil has added laser eyes to his profile picture. Bitcoin is becoming mainstream in real time and those responsible are the same governments that everyone said were going to ban the asset. Bitcoin is the ultimate tool for global freedom.

Thus, now that politicians in Latin America are joining the Bitcoin wave, the prediction of several crypto influencers seems to be fulfilled. Those who over the years have placed their trust in the adoption of BTC in the developing world regions. Against the strength of fiat currencies in developed countries.