Gustavo Petro, the man who recently won the Colombian presidential election, has spoken positively about Bitcoin in the past. Petro will take over from Iván Duqua Márquez on August 7 after winning the election on Sunday.

Interestingly, during the 2017 bull run, he talked about Bitcoin’s ability to take power away from governments and central banks to give it back to the people.

Petro also responded to Nayib Bukele

In 2021, the new Colombian President Petro also responded to President Nayib Bukele of El Salvador. Bukele shared his ideas about mining Bitcoin with volcanic energy and Petro agreed. “Digital currencies are pure information and with it energy,” Petro . said in reaction on Bukele.

Petro will start as president of the South American country in August and given his past statements, that is a positive development for Bitcoin. With a population of about 52 million inhabitants, Colombia is not a small country in South America. In addition, the adoption of Bitcoin and other cryptocurrencies relatively high in Colombia.

Is Colombia going after El Salvador?

The big question now, of course, is whether Colombia is going after El Salvador and rebranding Bitcoin as legal tender. Countries the size of Colombia are exactly what we need to take Bitcoin’s global adoption to a new level. The population of Colombia is about a factor of 10 larger than that of El Salvador and the Gross Domestic Product is also more than 10 times larger than in El Salvador at $ 271.3 billion in 2020.

Compared to Colombia, El Salvador is really a small province. Colombia will definitely be a country to keep an eye on when it comes to Bitcoin from August. Especially because of the statements Petro has made about Bitcoin in the past. Ultimately, we’ll just have to see how far his newfound position of power will change his ideas about Bitcoin. After all, Petro now also has a lot of other interests to take into account.


Please enter your comment!
Please enter your name here