Colombian President Gustavo Petro has recently started holding Bitcoin. This happened after he met with a group led by Samson Mow, the founder of JAN3, a company working on Bitcoin adoption by nations.
Local media and social channels shared news about the meeting, indicating a significant move towards considering the use of BTC and blockchain technology in Colombia’s society and economy. JAN3 hinted at the possibility of new policies, saying, “Could the use of Bitcoin lead to changes in Colombian policies? It’s quite possible. The JAN3 team discussed potential implementation in social projects during their meeting with President Petro.”
Colombian President Embraces Bitcoin with 100,000 Satoshis
In a recent development, Samson Mow shared an image on social media, confirming that Colombia’s President, Gustavo Petro, now owns Bitcoin—precisely 100,000 satoshis (0.001 BTC). Mow expressed gratitude to President Petro for his openness to Bitcoin, stating, “Thanks, President Petro Gustavo, for the warm welcome. We’re excited to contribute to Colombia’s progress, and remember to hold onto your Bitcoin!”
The President of Colombia is now a #Bitcoin HODLer for sure. 100,000 sats to be exact. ☕️🇨🇴 pic.twitter.com/dKbnTRtcAI
— Samson Mow (@Excellion) December 1, 2023
Adding to the significance of the meeting, Diego ‘Aequalitatem Honoris’ Gutierrez-Zaldivar, the CEO of IOVLabs, emphasized its importance on social media. He conveyed his appreciation to President Petro Gustavo for the meeting, expressing a shared commitment to building a better and more prosperous society together.
Thank you President @petrogustavo for receiving us. We share the commitment to create a more prosperous society.
cc: @Excellion @maurotov https://t.co/awGCEmgLBp
— Diego 'Aequalitatem Honoris' Gutierrez-Zaldivar (@dieguito) December 1, 2023
President Petro Explores Bitcoin and Blockchain Integration in Colombia
Reports from Diario La República and W Radio reveal that President Gustavo Petro is actively exploring the incorporation of BTC in the national economy, particularly through cooperatives. The president is also considering the application of blockchain technology in various public sectors, including health billing, management of the Special Assets Society (SAE), and land restitution processes.
President Petro highlighted the potential benefits of real-time management in the health billing system and property management through blockchain technology. Additionally, he discussed the integration of Bitcoin in worker cooperatives within the popular economy during a meeting at the Casa de Nariño. Notable blockchain experts such as Samson Mow, Diego Gutiérrez, Raúl Velásquez, Edwin Rivas, Cristian Quintero, and Mauricio Tovar participated in these discussions.
It’s worth noting that cryptocurrencies are currently not regulated in Colombia. Although the Financial Superintendency has been piloting cryptocurrency use for a few years, definitive results are pending. The implementation of President Petro’s proposed strategies depends on future developments in cryptocurrency regulation in Colombia.
Despite regulatory uncertainties, President Gustavo’s engagement with Bitcoin and blockchain experts suggests a potential shift towards embracing these technologies at a national level. As Colombia grapples with regulatory aspects, the president’s involvement could signify the possibility of more concrete Bitcoin and crypto policies, leading to broader adoption in the near future.
Notably, Samson Mow’s recent discussions in Suriname, where he explored a potential Bitcoin strategy for economic transformation, underscore the growing interest in cryptocurrency at the national level. Mow hinted at the possibility of the central bank investing 1% of its reserves in BTC. At the time of writing, BTC traded at $38,117.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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