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Microstrategy CEO Michael Saylor has prompt Nigeria and Zimbabwe challenge currencies which are backed by bitcoin in the event that they wish to repair their economies. He surmised that utilizing the bitcoin commonplace will finish hunger and permit residents of each international locations to have an honest life.
Nationwide Currencies Backed by Bitcoin
In a video clip the place he additionally addresses claims that the Bitcoin community can’t scale, Saylor means that if Nigeria and Zimbabwe buy bitcoins value $2-3 billion, they might effectively finish the forex woes they presently face. Saylor defined:
You wanna repair your nation like Nigeria, or Zimbabwe? The way in which you repair your nation is you purchase $2 billion, $3 billion value of bitcoin and also you challenge forex backed by the bitcoin. That’s the bitcoin commonplace. And each certainly one of your residents stops ravenous to dying. They usually stay an honest life.
Bitcoin as ‘the Kingmaker’
Earlier than mentioning Nigeria and Zimbabwe, Saylor, whose firm now holds greater than 114,000 bitcoins, additionally identifies Turkey as one other nation that might purchase bitcoins and use them to again the lira forex. In line with Saylor, if Turkey have been to buy bitcoins value $5 billion and maintain these for the subsequent 5 years, this might doubtlessly strengthen the lira forex.
Regardless of Saylor’s fixed exhortations, just one nation, El Salvador, seems to have taken heed of the recommendation. Many different international locations, together with Nigeria, have as an alternative chosen to create their very own digital currencies which they hope will diminish the enchantment of bitcoin.
Nevertheless, in the identical video, Saylor insists this may occur and this may show that bitcoin is “the kingmaker.”
Do you agree with Saylor’s sentiments on bitcoin? Inform us what you assume within the feedback part beneath.
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