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- The well-known investor, Simon Dixon, points out Bitcoin Policy of El Salvador as “very responsible.”
- He believes the country could also pull itself out from huge debt, if its Bitcoin policy succeeded.
Simon Dixon is the CEO and co-founder of an online investment platform, BnkToTheFuture. He recently discussed the bitcoin policy of El Salvador. He claimed that investing in Bitcoin can take the country out from the leveraged debt of the International Monetary Fund (IMF).
Dixon’ Belief in El Salvador Bitcoin Investment
Dixon expressed about the bitcoin adoption of El Salvador, he said “Betting a percentage of a country’s future, I believe, is a completely responsible, not irresponsible strategy, and the IMF wants countries to follow irresponsible strategies of fiat-based Ponzi scheme debts.”
He strategized bitcoin as an equity factor to get rid of debt. He said, “Equity, I mean, I was deep in debt trying to create a bank, and then Bitcoin treated me well. I became wealthy because of Bitcoin.”
On his Twitter account, Dixon shared about El Salvador’s bitcoin strategy.
In addition, Dixon stated, “If El Salvador succeeds, this is a big problem for the business model of the IMF. They’re not a bailout company, they’re not a mechanism for developing the world.” He also denoted the Central Based Digital Currencies (CBDCs) as a “debt-free money issued by a central bank” or a “speculative attack on fractional reserve banking.”
He further said, “They’re a mechanism for dollarizing the world and implementing a global central bank digital currency on top of their special drawing rights, so they can maintain control of their mechanisms.”
It must be noted that El Salvador has bought 2,300 bitcoin since December 2021. It is the only country which legally adopted Bitcoin as a legal tender. While the IMF is continuously against the decision of El Salvador.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
