3 min read
Saifedean Ammous, author of "The Bitcoin Standard," a hallmark book within the cryptocurrency space, has become the newest economic advisor to El Salvador’s National Bitcoin Office (ONBTC).
News broke early Tuesday morning, as the ONBTC tweeted: “When the author of the Bitcoin Standard met the leader of Bitcoin Country, great things were bound to happen” ending the post with “Welcome to the winning team, Dr Ammous!”
Stacy Herbert, Director of the ONBTC, told Decrypt that Saifedean will work as a remote advisor, “adding another voice and opinion to the advice that the President receives as Bitcoin Country continues to grow rapidly over the coming months and years.”
The Austrian economist spoke with the local newspaper Diario El Salvador about his view on the country’s Bitcoin strategy as well as what he aims to bring to the table.
Ammous told the local newspaper he’s confident about the “possibility that El Salvador will be free from debt in five to ten years.” He also said the country has a “large potential to be a hub of innovation.”
He added that some of the initiatives presented by president Nayib Bukele, like the zero tax for technological companies, has made the country very attractive, especially in lieu of “other nation’s doing the opposite.”
He didn’t name those other nations, but could be hinting at recent crypto tax talk in United States, United Kingdom, Portugal and Italy.
The National Bitcoin Office said that Ammous has requested that he not be paid for his new role and will be serving solely as an advisor to the president.
Ammous was in El Salvador participating in CUBO+, a development program for Salvadorans interested in learning the code behind Bitcoin and Lightning Network. Saifedean commented in his interview with Diario El Salvador that he thinks of it as “a great initiative” and that “developing competencies in Bitcoin programming will help position young people in the future.”
El Salvador’s National Bitcoin Office was created late last year by president Nayib Bukele in conjunction with known bitcoiners Stacy Herbert and Max Keiser. Through El Salvador's Decree n.49, it manages “all matters relating to cryptocurrency.”
The country has been a pioneer in its national cryptocurrency strategy, making Bitcoin legal tender in 2021, and launching their innovative Bitcoin bonds earlier last year.
Reports about Bitcoin’s adoption in the small Central American country have been mixed, however, with tourism on the rise this year, despite previous signs it has been slow to take off.
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