Author of ‘The Bitcoin Standard’ becomes economic advisor to El Salvador

Dr. Saifedean Ammous, author of the informative book The Bitcoin Standard, recently acquired the position of economic advisor to El Salvador’s National Bitcoin Office.

“First Country to Embrace Bitcoin Standard”

On May 30, the National Bitcoin Office announced that Dr. Saifedean Ammous, the Austrian economist and author of the well-known book The Bitcoin Standard, had joined their team as an advisor on various economic policy areas.

Dr. Ammous’ groundbreaking book was originally released in April 2018. It explores the transition from solid stores of value to inflated assets and fiat currencies, and traces the history of money, illustrating the changes in civilizations with their monetary systems.

On May 30, Dr. Ammous expressed excitement about his new position, stating that he was “excited” to work at the office of “the first country to adopt the Bitcoin standard!”

Possible debt free in 5 years

Speaking to local media outlet Diario El Salvador on May 30, Ammous said, “What makes Bitcoin unique is that it gives you the opportunity to have a strong asset that does not depreciate over the years.”

“If you have money that depreciates over time, there is no point in saving and it makes sense to go into debt,” he added. “If you keep accumulating Bitcoin for the next 5 years, chances are El Salvador will be debt free.”

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Teaching about Bitcoin & Lightning Network

The National Bitcoin Office (ONBTC) announced that Dr. Ammous recently traveled to El Salvador to teach students of CUBO+, a development program for Bitcoin and the Lightning Network. The purpose of these lessons was to teach the local population the code and concepts of these technologies.

During his visit, Dr. Ammous also met with President Nayib Bukele, sharing his view on the “remarkable benefits of economic freedom” accruing from the country’s policies.

The ONBTC emphasized that Dr. Ammous has not accepted any compensation for his role and is only interested in supporting President Bukele’s Bitcoin policy.

The National Bitcoin Office of El Salvador was established in November 2022 by President Bukele to oversee the management of all crypto-related affairs in the country.

In addition to the recently appointed professor, American presenter Max Keizer and television presenter Stacy Herbert are also part of President Bukele’s Bitcoin team.

Max Keizer noted that the book The Bitcoin Standard “has orange-pilled millions of people, including MicroStrategy founder Michael Saylor, and countless business and finance heavyweights who continue to add Bitcoin to their reserves on a daily basis.”

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