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Renowned economist and author of The Bitcoin Standard, Saifedeen Amos, has been appointed as the economic advisor to the National Bitcoin Office of El Salvador (ONBTC).
ONBTC revealed in a Twitter thread on Tuesday that Amos, who advises the president and ONBTC, will join the department as an economic adviser as the country continues to embrace cryptocurrencies.
Ammuth was in El Salvador participating in CUBO+, a development program for Salvadorans interested in learning the code behind Bitcoin and the Lightning Network.
He then met with President Naive Bukre and “shared his thoughts on the outstanding benefits of economic liberty policies,” ONBTC said.
“As an Austrian economist, best-selling author and noted Bitcoiner, Saifedeen will be a great addition to President Bukele’s Bitcoin team, which includes Max Kaiser and Stacey Herbert. would advise on issues related to economic policy.”
Mr. Amos will not receive compensation for his role as an advisor.
Ammous Expresses Support for Salvador’s Bitcoin Strategy
Announcement will be made after Ammous expressed confidence In a recent interview with a local newspaper, he mentioned El Salvador’s bitcoin strategy and said the country could become a center of innovation.
He also praised President Naib Boucle’s zero tax policy for tech companies, which has made the country attractive to investors.
Bitcoin guru claims he is confident El Salvador can be debt free within 5 to 10 years. He also said the country has “great potential to become a center of innovation”.
The National Bitcoin Office of El Salvador was established in late 2022 by President Naib Bukele in collaboration with Bitcoiners Stacey Herbert and Max Kaiser.
By Legislative Decree No. 49 of El Salvador, ONBTC governs “all matters relating to cryptocurrencies”.
El Salvador has pioneered a national cryptocurrency strategy, making Bitcoin legal tender in 2021 and launching an innovative Bitcoin bond later in the year.
Meanwhile, media coverage of Bitcoin adoption in small Central American countries has been mixed, suggesting that adoption is lagging.
Government statistics show that cryptocurrencies account for less than 2% of all remittances to El Salvador.
Remittances, mostly from Salvadorans based abroad, are the main source of income for the country.
In fact, for this same reason, the government has promised that BTC will offer more choice and convenience to senders and receivers of remittances.
The country has also launched a dedicated BTC app designed primarily to facilitate BTC remittances from abroad. But according to last year’s data, only 2 out of 10 of those who originally downloaded the app are still using it.