«We will surpass El Salvador to become the most pro-Bitcoin country in the world»
El Salvador inspires Australia in its bet on Bitcoin, while the U.S. prepares to unleash the state race for digital currency.
The global interest in the adoption of Bitcoin, inspired by El Salvador's pioneering move in 2021 to adopt Bitcoin as legal tender. Highlights Australia's ambition to surpass El Salvador as the most pro-Bitcoin nation, driven by the vision of the Libertarian Party.
John Ruddick, a member of the New South Wales Legislative Council, is at the forefront of this initiative. He sees Bitcoin as a tool to reduce government dependence, in line with libertarian principles. The party's proposals include establishing a strategic reserve of Bitcoin and eliminating capital gains tax on Bitcoin transactions, arguing that it should be treated as currency. Ruddick also advocates for reducing electricity costs to boost Bitcoin mining in Australia.
El Salvador's adjustments to its Bitcoin Law, influenced by the International Monetary Fund (IMF). It points out the challenges countries face when adopting Bitcoin within traditional financial systems. The global landscape is changing, and Japan is also signaling its interest in accumulating Bitcoin.
Which country will become the next pro-Bitcoin stronghold: the United States, Australia, or Japan? This competition could reshape the dynamics of global economic power in an increasingly digital world.
