Bitcoin Standard author now advises El Salvador on economics

Dr. Saifedean Ammous, who authored a book called The Bitcoin Standard which explains Bitcoin (BTC), has been appointed as an economic advisor for the National Bitcoin Office of El Salvador.

On May 30, the Office announced that the Austrian economist would be joining the team as an advisor for matters relating to various economic policies.

The book, which was published in April 2018, analyzes the transition from solid stores of value to inflated assets and fiat currencies, traces the history of money, and aims to show how civilizations have changed with their monetary systems.

Regarding his new position, he tweeted on May 30 that he was “excited” to work in the office in “the first country to adopt a Bitcoin standard!”

When the author of the Bitcoin Standard met the leader of Bitcoin Country, great things were bound to happen. We are excited to announce that @saifedean is joining us as Economic Advisor to the National Bitcoin Office of El Salvador. Welcome to the winning team, Dr Ammous!

— The Bitcoin Office (@bitcoinofficesv) May 30, 2023

Speaking to local media outlet Diario El Salvador on May 30, Ammous said, “What makes Bitcoin unique is that it gives you the opportunity to have a strong asset that doesn’t depreciate over the years.”

“If you have money that depreciates over time, there is no point in saving and it makes sense to get into debt,” he added.

“If you continue to accumulate Bitcoin for the next five years, there is a good chance that El Salvador will be debt-free.”

The National Bitcoin Office (ONBTC) reported that Dr. Ammous recently traveled to El Salvador to lecture students of CUBO+, a Bitcoin and Lightning Network developers program, to teach locals the code and concepts.

He also met with President Nayib Bukele and shared his thoughts on the “remarkable benefits of the policy of economic liberty.”

The ONBTC stated that Dr. Ammous declined any remuneration for the role and was only interested in supporting President Bukele’s Bitcoin policy.

Bukele created El Salvador’s National Bitcoin Office in November 2022 to manage all things crypto-related.

Related: Strike moves global headquarters to El Salvador, expands to 65 countries

American broadcaster Max Keiser and television presenter Stacy Herbert are also part of Bukele’s Bitcoin team, in addition to the recently appointed professor.

Max Keiser commented that The Bitcoin Standard “‘Orange Pilled’ millions, including [MicroStrategy founder Michael Saylor] and many corporate and financial heavyweights who keep adding Bitcoin to their coffers daily.”

Magazine: What it’s actually like to use Bitcoin in El Salvador

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