Bitcoin (BTC) Maximalism: Necessity or Destructive Reaction?

In December 2021, El Salvador became the first nation to accept bitcoin (BTC). Since then, the country has already managed to accumulate more than 2,300 BTC. Its current bitcoin reserves are worth just over $50 million following the current price of BTC. For the IMF, El Salvador should abandon its bitcoin (BTC) policy. But for some analysts, the country is on the right track.

Simon Dixon Appreciates El Salvador’s Bitcoin (BTC) Policy

Simon Dixon said through a tweet August 27:I will buy El Salvador bonds following the government buyout in my traditional retirement plan.“. According to him, El Salvador’s bitcoin (BTC) policy justifies such an investment. It must be said that he had declared that this policy “very responsiblecould help change the global monetary system. He added that it would enable the country to emerge from “Ponzi-like debt schemes based on fiatscreated by the IMF.

For the eminent investor Simon Dixon, each of the financial crises that the world has known so far has led to the indebtedness of countries. This situation has affected the economy of these countries by transforming them into over-indebted systems. Simon added that bitcoin (BTC) is a kind of independent stock that can offer excellent returns. Countries could beat the IMF debt cycle by investing in this cryptocurrency.

Furthermore, Dixon said:I was at rock bottom trying to start a bank, and then Bitcoin treated me well. I got rich with bitcoin.“. He also explained that any government that borrows from the United States or China will always borrow fiat currency. It turns out that the latter is linked to IMF supervision.

For Dixon, the IMF is aware that a well-built economy around bitcoin (BTC) would seriously threaten its current system. This explains why the organization does not appreciate the fact that this crypto is legally recognized in El Salvador.

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