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Bitcoin is like kryptonite to all these snakes like IMF, World Bank, Central Bank and whatever the fuck bank you can think of... Some digital currency that wasn't created by their oligarchian powers is threatening their power of control over nations and individuals.
As El Salvador’s Legislative Assembly has passed legislation creating a $150-million Bitcoin Trust and supporting the development of crypto infrastructure and services across the country, IMF "took the time" to tweet once again its concerns towards El Salvador's decision to make Bitcoin legal tender.
“Privately issued crypto assets like Bitcoin come with substantial risks. Making them equivalent to a national currency is an inadvisable shortcut.”
The only risk right now that I see, is Bitcoin not making it and getting its ass regulated like Satoshi has never even imagined.
Why would Bitcoin be risky? Because these institutions can't control it, the only thing they control is the fiat gateways between crypto and people's pockets, they don't have the switch off button for it though. It doesn't even have one, but dinosaurs keep on searching for it. El Salvador is moving with its plans though...
The $150 million will be redirected from the country’s $500-million loan with the Central American Bank for Economic Integration (CABEI). The CABEI loan was originally taken for the purpose of economic recovery for small and medium-sized businesses. Of those funds, $23.3 million is earmarked to support the installation of government-backed crypto ATMs — allowing local citizens to exchange between Bitcoin and USD. But $30 million has also been designated to offer incentives to encourage the adoption of the government’s digital wallet, Chivo.
I bet many other poor economy countries will follow suit with El Salvador, just waiting to see it pilot testing Bitcoin as legal currency. The ones at the spinning wheels of the monetary powers of this world have all the reasons in the world to be against Bitcoin though, but to some of us this is the life boat.
Belarus is the latest to support Bitcoin as the President of the country just stated: There is "enough electricity" to support domestic Bitcoin mining.
All this show around Bitcoin, happening in the world, makes me imagine what a fight would be over Bitcoin once many more countries will realize its impact and intrinsic value. That's when the four years cycle will be a thing of the past. There won't be any incentives anymore to sell it. Who would give away precious crypto when the world will realize its value and desperately trying to put its hand on a bunch of sats.
The tyrants that are in control of this world for so many centuries are desperately searching for a switch off button for Bitcoin, but there's no such thing. You can't go Brrr on Bitcoin and scarcity is getting stronger and stronger with every mined block that's eaten up by hungry whales. There's gonna be a massive shift on the planet sooner than later and Bitcoin is in a key role for this matter.
Thanks for attention,
Adrian
