Dr. Saifedean Ammous, prominent economist and author of “The Bitcoin Standard,” is poised to take on a new role as an Economic Advisor to El Salvador’s Bitcoin Office. This appointment comes after El Salvador made history by becoming the first country to adopt bitcoin as legal tender in September 2021.
“Having Saifedean Ammous on team El Salvador is fantastic,” Max Keiser, Senior Bitcoin Advisor to the country said in a statement to Bitcoin Magazine. “Ammous brilliantly captured the role of Bitcoin as, ‘The alternative to Central Banking’ in his now classic, ‘The Bitcoin Standard’ as well as the philosophy of Bitcoin including popularizing the idea of ‘time preference’ as a life-hack. This news makes me very happy.”
Ammous, known for his expertise in Bitcoin and monetary economics, is expected to provide valuable guidance and insights to the Bitcoin Office as it navigates the implementation and integration of Bitcoin into the country’s economy. His extensive knowledge and research on the subject have earned him recognition within the community and beyond.
The Bitcoin Law, proposed by El Salvador’s President Nayib Bukele and approved by the Legislative Assembly, has set the stage for a new era in the country’s financial landscape. With Ammous joining as an Economic Advisor, El Salvador aims to leverage his expertise to maximize the benefits and address potential challenges associated with adopting bitcoin as legal tender.
The Bitcoin Office, established to oversee the implementation of the Bitcoin Law, will likely benefit from Ammous’ insights on monetary policy, sound money principles and the potential economic implications of embracing a decentralized digital currency. His appointment signals El Salvador’s commitment to incorporating expert opinions into their strategy and decision-making process.