(Creator’s observe: On this Take, I provide an interpretation of current occasions in Guatemala via the lens of somebody on the bottom within the nation.)
On November 10, the X account for El Salvador’s Bitcoin Office posted the next meme:
It appeared innocent sufficient. I do know I didn’t assume an excessive amount of about it after I got here throughout it. I bear in mind laughing after I noticed it after which simply going about my day.
Nonetheless, every week in the past, a colleague of mine, a outstanding Guatemalan Bitcoiner, shared with me that the meme went viral in Guatemala. And never only a bunch of retweets-type viral — extra like wildfire viral.
Many Guatemalans, significantly Guatemalan Bitcoiners, are followers of Bukele. So, when the Bitcoin Workplace jokingly signaled that Bukele is pondering of shopping for Guatemala, the response from many within the nation was basically “good.”
This put the powers that be within the nation on their heels, catalyzing greater ups within the Guatemalan authorities and at Guatemala’s central financial institution to start out researching Bitcoin.
My supply tells me it is attainable that this might outcome within the Guatemalan authorities and central financial institution acknowledging bitcoin’s worth and providing correct steering for banks and different establishments which will wish to maintain the asset on their stability sheets.
I plan to talk with extra individuals on the bottom within the coming weeks to offer extra substantial reporting.
This text is a Take. Opinions expressed are solely the writer’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.