Unveiled: Mexico’s Secret Plan to Ditch the Dollar for Bitcoin!

• Samson Mow proposes integrating Bitcoin into Mexico’s national treasury, similar to gold and foreign currency reserves.
• Issuing Bitcoin-backed bonds could leverage Mexico’s energy resources, accelerating national Bitcoin accumulation and mining infrastructure investment.

Mexican Senate, Samson Mow, CEO of JAN3, proposed three strategic pathways to transform Mexico into a “Bitcoin Nation.” 

Joined by Senator Indira Kempis, a proponent of Bitcoin adoption, Mow detailed measures that could accelerate Mexico’s integration into the cryptocurrency world, potentially positioning it as a global leader in crypto adoption.

Strategic Pathways for Bitcoin Integration

Mow’s first suggestion involves integrating Bitcoin into Mexico’s national treasury as a reserve asset. This move would mirror traditional financial strategies where countries hold gold or foreign currency reserves. By adopting Bitcoin in this capacity, Mexico could diversify its reserve assets and potentially shield its economy from inflation and currency devaluation.

Emitir un bono de Bitcoin sería muy sencillo de hacer aquí, y esto llevaría a una gran acumulación de Bitcoin, además de posicionar a México en la vanguardia de los nuevos instrumentos financieros en el escenario global

The second strategy focuses on issuing Bitcoin-backed bonds. Mow pointed out that Mexico, with its rich energy resources, is uniquely positioned to leverage these bonds. This approach would not only allow for Bitcoin accumulation but also spur investment in cryptocurrency mining infrastructure, setting a precedent in the financial world for innovative investment instruments.

Mow’s third proposal is perhaps the most transformative

As we have already reported in Crypto News Flash, legislating Bitcoin as legal tender in Mexico. This would permit all Mexican citizens to transact freely using Bitcoin, emulating El Salvador’s pioneering legal adoption in 2021. Senator Kempis has been working towards this legislation for years, and Mow’s endorsement underscores a significant push towards realizing this goal.

The adoption of Bitcoin as an official currency would be unprecedented for Mexico and could serve as a model for other countries contemplating similar paths. JAN3, under Mow’s leadership, has already been instrumental in developing Bitcoin infrastructure in El Salvador, advising on Volcano Bonds and the construction of Bitcoin City.