Colombian President Gustavo Petro recently hosted the team behind Jan3, a company specializing in the development of Bitcoin adoption, and received a donation of 100,000 satoshis at the meeting. The occasion marks another step towards cryptocurrency adoption in Colombia, reflecting a growing trend in Latin America.
Colombian President receives Bitcoin
This Friday morning, the President of Colombia, Gustavo Petro, received a visit from the team at Jan3, a company specializing in the development of Bitcoin adoption. On this occasion, Samson Mow, Jan3’s CEO, offered 100,000 satoshis (a fraction of BTC), the equivalent of around 35 euros, to the president.
Thank you President @petrogustavo for the welcoming message. We’re excited help Colombia to move forward. And don’t lose your Bitcoin! ❤️ pic.twitter.com/7HZNJeGgtr
– Samson Mow (@Excellion) December 1, 2023
In a video taken and posted by Mow on X, Gustavo Petro showed his enthusiasm regarding the adoption of Bitcoin in his country:
“We are going to open working groups within the public administration […] in order to strengthen them with these new technologies that have undoubtedly already made their way in the world and will have, in the future, a development that can be promising for the prosperity of peoples. “
The future of Bitcoin in Latin America
Latin America seems to be fertile ground for the adoption of Bitcoin as a means of payment. For several years now, businesses and governments across the continent have been openly optimistic about the future of this leading cryptocurrency.
Recently, Javier Milei, a candidate who expressed an opinion in favor of adopting Bitcoin as a currency, was elected president in Argentina.
While many Bitcoin enthusiasts welcomed Milei’s election, the new president expressed more of a desire to replace the Argentine peso with the dollar rather than adopt Bitcoin.
This position is at odds with the principles of Austrian economics that some try to ascribe to him. However, adopting the dollar could be a wise choice to safeguard the short-term future of the Argentine economy, which is expected to experience 180% inflation by the end of 2023.
Meanwhile, El Salvador, the first country to legalize Bitcoin as a currency, reached another milestone in October 2023 with the inauguration of Lava Pool, its first Bitcoin mining facility. The government expects to earn 23% of the revenues generated by these facilities.
El Salvador is also moving ahead with Bitcoin education. 2 years after formalizing Bitcoin as a legal tender, the government is introducing a BTC education program in schools. Supported by Bitcoin Beach and Mi Primer Bitcoin, the program aims to train teachers to introduce their students to the fundamentals of using the king of cryptocurrencies.
On a local level, many community groups are dedicated to educating people about the use of Bitcoin, such as Bitcoin Lake in Guatemala, AmityAge in Honduras, Praia Bitcoin in Brazil, and others. These initiatives testify to the growing adoption of Bitcoin in Latin America, and the Colombian president could also contribute to this expansion.
