Simon Dixon appreciated the Bitcoin adoption strategy of El Salvador to get out from the fiat-based Ponzi scheme debts.
El Salvador is the first country in the world, which adopted Bitcoin as currency in September of last year. It was happened because of the leadership of El Salvador president Nayib Bukele. However, El Salvador’s president faced criticism for Bitcoin adoption but he never paid attention & supported many Bitcoin-related initiatives to make the progress of the country’s economy faster with the decentralized payment system.
On 23 August, Popular Investor Simon Dixon talked about El Salvador’s Bitcoin adoption as a digital move and labeled the fiat-based irresponsible strategy of IMF as a fiat-based Ponzi scheme debt.
Simon said that history is proof that every financial crisis forced the countries to fall into debt situation but here the decision of El Salvador to go with Bitcoin make this situation away.
Further, Simon said that the IMF agency wants countries to follow irresponsible strategies of fiat-based Ponzi scheme debts.
“Betting a percentage of a country’s future, I believe, is a completely responsible, not irresponsible strategy,” Simon said.
According to this prominent Investor, if El Salvador will become successful with the bitcoin investment plan then surely the country will get out of the fiat-based Ponzi scheme.
Simon believes that investing in Bitcoin is dragging countries’ economies from debt to equity.
“(By) equity, I mean, I was deep in debt trying to create a bank, and then Bitcoin treated me well. I became wealthy because of Bitcoin.”
Simon also explained that investment in Bitcoin will lead to a better wealthier situation for investors but the opposite investment in fiat only leads to financial loss.
On the development and adoption of Central Bank Digital Currency (CBDCs), Simon said that CBDCs will only follow IMF’s debt-based Ponzi schemes but in digital form.