Maya Parbhoe, a presidential candidate in Suriname, has cited El Salvador’s pro-Bitcoin BTC/USD president, Nayib Bukele, as her inspiration to run for office.
What Happened: Parbhoe was inspired by the Bitcoin-friendly policies of President Bukele. Bitcoin Magazine reported on Tuesday. She emphasized how swiftly investment flooded into El Salvador under Bukele’s leadership and what that level of investment might mean for a country like Suriname.
"El Salvador had a billion in investment in the first year (after it made Bitcoin legal tender), just from the Bitcoin industry," Parbhoe stated. “Imagine what effect that can have on a $3.8 billion GDP. It’s almost a quarter of our GDP."
A staunch advocate of the world’s largest cryptocurrency and a serial entrepreneur, Parbhoe plans to replace the inflationary Surinamese Dollar with Bitcoin once elected to power. Like other libertarians in this realm, she said that Bitcoin is one of the best tools to give power back to people.
Why It Matters: El Salvador’s adoption of Bitcoin has been a significant development in the cryptocurrency world. The country was the first to adopt Bitcoin as legal cash and even launched a platform to make information on its treasury holdings accessible and transparent to the general public.
In June, just two weeks into his second term, Bukele proposed the establishment of a Bitcoin bank. The objective of the bank is to attract significant Bitcoin investments, which could dramatically increase El Salvador's GDP and improve its credit rating to investment grade within 24 months.
As of this writing, El Salvador has 5,806.76 Bitcoins in its custody, worth $337.5 million.
Price Action: Bitcoin was trading at $58,133.24, up 1.78% in the last 24 hours, according to data from Benzinga Pro.
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