Suriname Could Surpass Argentina and Be the Next Country to Adopt Bitcoin as Legal Tender

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Suriname’s presidential candidate, Maya Parbhoe, is gaining prominence with her bold proposal to adopt Bitcoin (BTC) as the country’s official currency, potentially “ahead” of Argentina. The Latin American country has President Milei as a major BTC advocate, but so far, nothing substantial has been announced for the community.

Parbhoe had already expressed her optimism about cryptocurrency in May 2024. She believes Bitcoin could be the solution to the financial crisis affecting Suriname. Her plan is inspired by El Salvador, which became the first country to adopt Bitcoin as legal tender in 2021.

The candidate argues that Suriname’s small population, around 600,000 inhabitants, makes it easier to implement significant changes.

“We are a very small country, and with a smaller population, we can make changes faster than Bukele in El Salvador,” Parbhoe said.

In El Salvador, which has approximately 6.3 million inhabitants, President Nayib Bukele faced considerable challenges when introducing Bitcoin as the official currency. Suriname’s smaller scale could facilitate the adoption and integration of Bitcoin into the country’s economy.

Suriname Could Adopt Bitcoin

Another strong point of Parbhoe’s campaign is her criticism of the traditional financial system. She believes that implementing Bitcoin could help build a new financial system, protecting Suriname’s economy from the surging inflation of the Surinamese dollar (SDR).

Parbhoe pointed out that the US government was “broken” when Bitcoin emerged in 2008 and compared the current American economic situation to the fall of the Roman Empire.

“I see no reason to keep the Surinamese dollar. It has an inflation rate of 50-60%. We need another unit of exchange,” she said.

The candidate intends for citizens to receive their salaries in Bitcoin and for businesses to increase their reserves of value with the cryptocurrency. She believes this will not only protect earnings from inflation but also provide a more stable store of value.

She also emphasized the importance of creating an adequate regulatory framework for the digital ecosystem. Furthermore, Parbhoe plans a national campaign to educate the population about Bitcoin and cryptocurrencies.

“I propose to make Suriname the home of Bitcoin innovation,” she declared. She believes that with the proper knowledge, citizens will be better prepared to work with and understand the functioning of the cryptocurrency industry.

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