Bitcoin gets support from politicians in Brazil, Mexico and more Latin countries | finance

Bitcoin (BTC) is increasingly present in the speeches of Latin American politicians. In early June, El Salvador’s President Nayib Bukele announced that the cryptocurrency would become official in his country. Since then, other countries have been flirting with the idea of ​​adopting digital currency, especially when fiat money is weak and undervalued.

Bitcoin has been receiving support from politicians in Latin America (Image: MichaelWuensch/Pixabay)

Bitcoin has been receiving support from politicians in Latin America (Image: MichaelWuensch/Pixabay)

Bukele received global attention for its pioneering and innovative ad. The global cryptocurrency market celebrated the adoption of bitcoin as a first step towards the day-to-day implementation of digital currency, which definitely suited the career of the young Salvadoran president.

Furthermore, the repercussions of the approval of bitcoin in the Congress of El Salvador have diverted attention from other major problems in the country, which is in the midst of delicate negotiations with the International Monetary Fund (IMF) and has been nurturing tense relations with the United States. Now, other politicians are emerging with the cryptocurrency at the center of their economic proposals, boosting the visibility of their candidacies.

Bukele has quickly become an example to be followed in Latin America, with an entire huge global cryptocurrency community spurring young politicians who favor digital currencies. Tyler Winklevoss, one of the famous “Facebook twins,” tweeted: “First they ignore you, then suddenly Paraguay, Argentina, Panama, Brazil, El Salvador and Nicaragua embrace #Bitcoin.”

Pro-bitcoin speech drives politicians

One of them is the Brazilian Fábio Ostermann, state deputy of the NOVO Party in Rio Grande do Sul. Still in 2018 he declared that he owned bitcoins and has been a supporter of cryptocurrency ever since. Last week, the politician joined the “laser eyes” movement, in which digital asset enthusiasts swap their profile photos for edited versions with glowing red eyes. “Laser eyes up to $100,000,” Ostermann said in the caption of his photo.

Gabriel Silva, an independent deputy outside his country’s political party system, also tweeted his support for bitcoin and celebrated Bukele’s success in passing his bill in the Salvadoran Congress. Since his first pro-cryptocurrency statement, his Twitter followers have nearly doubled.

Argentine congressman Francisco Sánchez, from the remote Patagonian city of Neuquén, is another one who has joined the wave of support for bitcoin. Although he hasn’t proposed any legislation yet, he briefly changed his Twitter profile picture to portray himself with laser eyes, which quickly became his most successful tweet to date, with over 7,000 likes.

In Mexico, there is state deputy Indira Kempis Martínez, who has come out in support of the federal adoption of bitcoin. Samuel García, also a member of the Movimiento Ciudadano political party, won the recent gubernatorial election in his home state, using in part the same pro-cryptocurrency tactics.

Politicians in favor of the national adoption of bitcoin are becoming increasingly popular. A common factor present in almost all speeches is the presentation of a monetary alternative to the ever weaker and devalued fiat currencies. The case of El Salvador became a great politically successful example of this new discourse. However, only time will reveal the true economic results of having bitcoin as the official currency.

With information: Rest of World

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