HomeBTCThe Guatemalan Government Is Taking A Closer Look At Bitcoin — All...

The Guatemalan Government Is Taking A Closer Look At Bitcoin — All Because Of A Meme

-


Follow Frank on X.

(Author’s note: In this Take, I offer an interpretation of recent events in Guatemala through the lens of someone on the ground in the country.)

On November 10, the X account for El Salvador’s Bitcoin Office posted the following meme:

The meme that spread like wildfire in Guatemala.

It seemed harmless enough. I know I didn’t think too much about it when I came across it. I remember laughing when I saw it and then just going about my day.

However, a week ago, a colleague of mine, a prominent Guatemalan Bitcoiner, shared with me that the meme went viral in Guatemala. And not just a bunch of retweets-type viral — more like wildfire viral.

Many Guatemalans, particularly Guatemalan Bitcoiners, are fans of Bukele. So, when the Bitcoin Office jokingly signaled that Bukele is thinking of buying Guatemala, the reaction from many in the country was essentially “good.”

This put the powers that be in the country on their heels, catalyzing higher ups in the Guatemalan government and at Guatemala’s central bank to start researching Bitcoin.

My source tells me it’s possible that this could result in the Guatemalan government and central bank acknowledging bitcoin’s value and offering proper guidance for banks and other institutions that may want to hold the asset on their balance sheets.

I plan to speak with more people on the ground in the coming weeks to provide more substantial reporting.

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Japan Declines Adoption of Bitcoin Reserves Amid Concerns

The Japanese government has made its stance on Bitcoin clear, responding officially to a proposal from Senator Satoshi Hamada. The statement, released on December...

Understanding Serenity, Part I: Abstraction

Special thanks to Gavin Wood for prompting my interest into abstraction improvements, and Martin Becze, Vlad Zamfir and Dominic Williams for ongoing discussions. For a...

Youngest Ever Bitcoin Core Contributor Gets Bitcoin Scholarship

Chaincode Labs, a privately funded Bitcoin research and development centre based in New York City, has awarded its inaugural Bitcoin Scholarship to 17-year-old Ishaana...

Most Popular