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Dr. Saifedean Ammous, the author of the popular book "The Bitcoin Standard," has been appointed as the Economic Advisor to the National Bitcoin Office of El Salvador.
He will be advising the office on various economic policies related to Bitcoin. Dr. Ammous is known for his analysis of the transition from solid stores of value to fiat currencies and inflated assets.
In a tweet, Dr. Ammous expressed his excitement to work in the first country that has adopted a Bitcoin standard. He believes that Bitcoin is unique because it is a strong asset that does not depreciate over time. He argues that if a currency depreciates, there is no point in saving and it makes more sense to get into debt.
Dr. Ammous believes that if El Salvador continues to accumulate Bitcoin for the next five years, there is a good chance that the country will become debt-free. This suggests that he sees Bitcoin as a means for the country to improve its financial situation.
During his visit to El Salvador, Dr. Ammous gave lectures to local students participating in a Bitcoin and Lightning Network developers program. He also met with President Nayib Bukele and discussed the benefits of economic liberty.
El Salvador's National Bitcoin Office Gains Support from Prominent Bitcoin Advocates
The National Bitcoin Office of El Salvador was established by President Bukele in 2022 to oversee all matters related to cryptocurrency. Dr. Ammous has joined the growing team of Bitcoin enthusiasts working with President Bukele, which also includes Max Keiser and Stacy Herbert.
Max Keiser, an American broadcaster, commented that Dr. Ammous' book "The Bitcoin Standard" has influenced many people, including influential figures like Michael Saylor, the founder of MicroStrategy. These individuals are increasingly adding Bitcoin to their portfolios.
It is worth noting that these statements and opinions are those of Dr. Saifedean Ammous, and the ultimate outcome of El Salvador's Bitcoin accumulation and its impact on the country's debt situation may depend on various factors.
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