What steps should El Salvador take to further Bitcoinization and foster its economic development with the crypto sector

Saylor and Tudor Jones: it´s time to start lobbying for Bitcoin

The recent move by El Salvador´s President Bukele to render bitcoin legal tender in the country was widely reported as a very important step towards bitcoin adoption. Though I agree that this is an historical step towards wider bitcoin adoption by sovereign nations and I clearly saw this coming, I have some concerns about how this is being done by El Salvador. In particular, I am against any “forced” adoption of bitcoin which, to use the words of Nic Carter, should better continue to “ flourish on its own merits “.

But before etting into my reasoning let me clarify…


What steps should El Salvador take to further bitcoinization and foster its economic development with the crypto sector.

Saylor and Tudor Jones: it´s time to start lobbying for Bitcoin

The recent move by El Salvador´s President Bukele to render bitcoin legal tender in the country was widely reported as a very important step towards bitcoin adoption. Though I agree that this is an historical step towards wider bitcoin adoption by sovereign nations and I clearly saw this coming, I have some concerns about how this is being done by El Salvador. In particular, I am against any “forced” adoption of bitcoin which, to use the words of Nic Carter, should better continue to “flourish on its own merits”.

But before getting into my reasoning let me clarify first what…


Musk prima si fa una canna poi spara cavolate su bitcoin

I media sono pieni di articoli su Bitcoin scritti da autori incompetenti che ripetono pedissequamente le “narrative” di volta in volta sentite da questa o quella fonte e promosse da gruppi di interesse e di cui tutti gli ignoranti si nutrono (gli inglesi le chiamano FUD).

Questo recente articolo di Repubblica ne e´la penosa conferma.


How a new wealthy class of crypto-nomads will reshape the global tax system and how small, agile and flexible emerging economies can gain from the inflow of crypto capitals. The new era of the citizen-customer.

Sometime between 3800 BC and 2000 BC a Sumerian, one inhabitant of ancient Mesopotamia — literally the “land between the rivers” Tigris and Euphrates — wrote the following on a clay tablet: “You can have a lord, you can have a King, but the man to fear is the tax collector”.

Wise words from over 4000 years ago.

The cat and mouse game between people and the tax collector has been going on forever, probably even before the first historical records of taxes dating back to ancient Egypt.

But in the last 20 years two epochal trends have altered the…


How a new wealthy class of crypto-nomads will reshape the global tax system and how small, agile and flexible emerging economies can gain from the inflow of crypto capitals. The new era of the citizen-customer.

Sometime between 3800 BC and 2000 BC a Sumerian, one inhabitant of ancient Mesopotamia — literally the “land between the rivers” Tigris and Euphrates — wrote the following on a clay tablet: “You can have a lord, you can have a King, but the man to fear is the tax collector”.

Wise words from over 4000 years ago.

The cat and mouse game between people and the tax collector has been going on forever, probably even before the first historical records of taxes dating back to ancient Egypt.

But in the last 20 years two epochal trends have altered the…


The thinking and the strategies behind Saylor´s bold bitcoin investing.

Michael Saylor is relatively new to the crypto sector. By his own admission he did not know much about bitcoin until February 2020. He then made the news in August 2020 when his company, Microstrategy, announced that it bought US$ 250 million of bitcoin as a treasury reserve. It was the first publicly listed company to make such an historical move. Since then he has built a 90.000 bitcoin treasury reserve worth over US$ 4 billion and no doubt this has influenced other public companies´ decisions to invest in bitcoin, such as Paypal, Tesla, Square and institutional investors such as…


The thinking and the strategies behind Saylor´s bold bitcoin investing.

Michael Saylor is relatively new to the crypto sector. By his own admission he did not know much abot bitcoin until February 2020. He then made the news in August 2020 when his company, Microstrategy, announced that it bought US$ 250 million of bitcoin as a treasury reserve. It was the first publicly listed company to make such an historical move. Since then he has built a 90.000 bitcoin treasury reserve worth over US$ 4 billion and no doubt this has influenced other public companies´ decisions to invest in bitcoin, such as Paypal, Tesla, Square and institutional investors such as…


Financialization will bring new risks and will increase third-party custody well above 50% of current stock. This may be a systemic risk for bitcoin.

Financialization of bitcoin is coming. This is the only reason why Wall Street is interested in bitcoin. The objective is to package bitcoin into some fancy financial product that they can sell for a profit. And sell a lot of it, for lots of profits.

Some say this is good because it increases adoption. Think about a bitcoin ETF. It is no doubt easier for traditional investors to buy an ETF and get an exposure to the bitcoin price rather than buying the real thing with the added complications of self-custody. …


Financialization will bring new risks and will increase third party custody well above 50% of current stock. This may be a systemic risk for bitcoin.

Financialization of bitcoin is coming. This is the only reason why Wall Street is interested in bitcoin. The objective is to package bitcoin into some fancy financial product that they can sell for a profit. And sell a lot of it, for lots of profits.

Some say this is good because it increases adoption. Think about a bitcoin ETF. It is no doubt easier for traditional investors to buy an ETF and get an exposure to the bitcoin price rather than buying the real thing with the added complications of self-custody. …


While institutional investors and large corporations increasingly adopt bitcoin, emerging economies can still gain a first-mover advantage in building a bitcoin centric economy.

Governments around the world have dealt with bitcoin and cryptocurrency adoption substantially in 3 ways: (i) countries like Switzerland and Liechtenstein have been first movers and have fully and openly adopted cryptos thereby creating thousands of new businesses and jobs in their prosperous crypto-valleys, (ii) countries like the USA and Europe have tended to regulate the sector albeit remaining permissive, despite an emerging tendency to over-regulate and the occasional talk of some sort of possible bans, (iii) few countries have banned in one way or another cryptos like China did in the past and India and Nigeria more recently.

Despite…

Andrea Bianconi

a lawyer , consultant , writer - SUPPORT MY FREE & INDEPENDENT WORK BY DONATING AT www.bianconiandrea.com;

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