Oddbean new post about | logout

Notes by Paul Me Roux | export

 The CEO of BlackRock can be considered one of the most powerful individuals on the planet. The important point right now is that people like him have come to understand that the dollar and the traditional economic structure stand no chance against Bitcoin and will soon be pushed aside.

For this reason, they are trying to emphasize Bitcoin as an 'asset,' encouraging people to simply hold it rather than use it to achieve true freedom and economic independence. This strategy is especially visible in companies like BlackRock, which are accumulating as much Bitcoin from the market as possible, aiming to become the largest holders. Their goal is to exert more influence over the market and control Bitcoin as a global asset.

At the moment, any effort to expand and introduce Bitcoin from any direction is commendable. Even temporary collaborations with major figures like Larry Fink will be useful for Bitcoin's growth and expansion. However, we must not forget that Bitcoin is not just a tool for wealth. At its core, it is a tool for freedom—freedom from centralized structures of power and dominating economies! 
 Nayib Bukele, the President of El Salvador, stated: 'The IMF, the World Bank, the Federal Reserve, and the mainstream media hate that we adopted Bitcoin as legal tender.'

He believes that these institutions are unhappy with Bitcoin being recognized as official currency because it poses a threat to their power and influence over global financial systems.

The dissatisfaction of traditional organizations is clearly understandable, given Bitcoin's ability to take financial control out of the hands of governments and international institutions. 
 The International Monetary Fund (IMF) has openly admitted that one of the primary reasons for halting financial aid to El Salvador is their dissatisfaction with Bitcoin and the government's decision to add it to the national treasury.

They are alarmed by the sight of a country using Bitcoin to break free from the shackles of debt.

This reveals that global financial systems are growing increasingly concerned about losing control. Bitcoin offers a path for smaller nations to escape the grip of centralized financial powers.

Bitcoin is a tool for financial freedom—something they fear. 
 The President of El Salvador, Nayib Bukele, met with the President of Argentina, another figure in the freedom movement and a supporter of Bitcoin.

Nayib Bukele, the first president to adopt Bitcoin as legal tender in his country, has played a significant role in shaping the global movement toward financial independence and economic freedom.

Now, he meets in Argentina with a president who shares a similar vision for the world of Bitcoin. This historic moment could be the spark for what the future of the global economy truly needs. 
 Absolutely, there is a powerful connection between Stoicism and Bitcoin, but it requires a bit of nuance. The essence of Stoicism revolves around personal responsibility, self-discipline, and the understanding that we can’t control external circumstances—only our own reactions. This mindset is quite relevant to the Bitcoin philosophy.

Bitcoin, like Stoicism, requires a level of patience, discipline, and an acceptance of volatility and uncertainty. Many who invest or believe in Bitcoin do so with the understanding that it’s not a path to quick wealth but rather a long-term commitment to a system that challenges the existing financial structures. It requires staying calm and steadfast in the face of market turbulence, societal skepticism, or government resistance—qualities that align closely with Stoic virtues. 
 Engaging with Bitcoin is intertwined with a sense of love for those you’ve never met, yet you know they exist, sharing the same unwavering belief. A belief that inspires you to take the leap. 
 What is the benefit to El Salvador to buying and holding bitcoin? Does that money make them able to loan money at a cheaper rate?

Benefits of Buying and Holding Bitcoin for El Salvador
Buying and holding bitcoin can offer several advantages for El Salvador:

    Bitcoin is recognized as a growing store of value, with predictions indicating that its value will increase over time. Holding bitcoin could provide a significant asset for El Salvador.
    As the value of bitcoin rises, El Salvador could benefit economically and strengthen its reserves. This growth in financial reserves may enhance the country's credibility in financial markets and enable access to loans at lower interest rates.
    With the increasing acceptance of bitcoin as a common currency, El Salvador could potentially use bitcoin directly in its financial transactions instead of fiat currencies, achieving greater financial independence.
    Bitcoin allows El Salvador to be somewhat independent from the global financial system dominated by the dollar and central banks. This could serve as an effective tool for reducing economic pressures and increasing financial freedom. 
 What led you to nostr? 
 Privacy