Politics
Bitcoin Gets Backed by Politicians in Brazil, Mexico, and Many Other Latin American Countries | finance
Bitcoin (BTC) is increasingly featured in speeches by Latin American politicians. In early June, El Salvador’s President Naib Bukele announced that the cryptocurrency would become official in his country. Since then, other countries have been flirting with the idea of a digital currency move, especially when fiat money is weak and undervalued.
Bitcoin Gets Backed by Politicians in Latin America (Image: MichaelWuensch / Pixabay)
Bukele has garnered worldwide attention for its pioneering and innovative advertising. The global cryptocurrency market marked the adoption of Bitcoin as the first step towards the day-to-day adoption of a digital currency, which was definitely in line with the career of the young President of El Salvador.
In addition, the ramifications of bitcoin’s approval by El Salvador’s Congress have distracted attention from other serious concerns in the country, which is in the midst of delicate negotiations with the International Monetary Fund (IMF) and has tensions with the United States. Now, other politicians are emerging in which cryptocurrency is at the center of their economic proposals, which makes their candidacy more visible.
Bukele has quickly become a role model in Latin America, where the huge global cryptocurrency community is inciting young politicians to favor digital currencies. Tyler Winklevoss, one of the famous Facebook twins, tweet: “First they ignore you, and then suddenly Paraguay, Argentina, Panama, Brazil, El Salvador and Nicaragua accept #Bitcoin.”
Bitcoin’s Speech Moves Politicians
One of them is the Brazilian Fabio Ostermann, an MP from the NOVO party in Rio Grande do Sul. Back in 2018, he stated that he owns bitcoin and has been supporting cryptocurrency ever since. Last week, the politician joined the laser eye movement, in which digital asset enthusiasts are swapping their profile photos for edited versions with glowing red eyes. “Laser eyes up to $ 100,000,” Ostermann said in a caption to his photograph.
#Laser eyes # LaserEyesTill100k #NovaFotoDoPerfil pic.twitter.com/tbxThxh5Ps
– Fabio Ostermann (@FabioOstermann) June 7, 2021
Gabriel Silva, an independent MP outside his country’s party system, also tweet his support for bitcoin and Bukele’s success in passing his bill in the El Salvadorian Congress. Since his first announcement of supporting cryptocurrency, his Twitter followers have nearly doubled.
Argentine Congressman Francisco Sanchez from the remote Patagonian town of Neuquen is another who has joined the wave of support for Bitcoin. Although he hasn’t proposed any law yet, he briefly changed his Twitter profile to portray himself with laser eyes, which quickly became his most successful tweet to date, garnering over 7,000 likes.
In Mexico, there is State MP Indira Kempis Martinez who has spoken out in support of federal adoption of bitcoin. Samuel Garcia, also a member of the Movimiento Ciudadano political party, won the recent governor’s elections in his home state, in part using the same cryptocurrency backing tactics.
Politicians advocating national adoption of Bitcoin are becoming more popular. A common factor present in almost all of the speeches is the presentation of a monetary alternative to increasingly weaker and devalued fiat currencies. The case of El Salvador is a prominent politically successful example of this new discourse. However, only time will tell the true economic results of using bitcoin as the official currency.
With information: The rest of the world
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Yesterday, financial agents evaluated the opposite decision of the Federal Supreme Court (STF) regarding the so-called secret budget. In addition, a decision was made by STF Minister Gilmar Méndez to issue an injunction that would exclude the Bolsa Família from the spending cap rule, with investors trying to understand how this measure would affect the processing of the transitional PEC in the Chamber of Deputies. Oh this PEC!!!!
Since he is an exchange investor, any reading that the budget will be exceeded or become more flexible will negatively affect the exchange market, whether through the PEC or in any other way. We will continue with volatility today.
Looking beyond, the US Central Bank (Fed), although slowing down the pace of monetary tightening at its December meeting, issued a tougher-than-expected statement warning that its fight against inflation was not yet over, raising fears that rising US interest rates will push the world’s largest economy into recession.
The currency market continues to react to political news. The voting on the PEC is saved for today. It is expected that it will indeed be reviewed to open the way tomorrow for discussions on the 2023 budget.
For today on the calendar we will have an index of consumer confidence in the eurozone. Good luck and good luck in business!!
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The former president of the Corinthians dreams of working for the CBF as a national team coordinator. He was consulted shortly after Lula’s election.
Former Corinthians president Andrés Sánchez was advised to take a position in the Ministry of Sports under the administration of Lula (PT). However, he ruled out a return to politics. dreams of taking over the coordination of CBF selectionHow do you know PURPOSE.
No formal invitation was made to the former Corinthian representative, only a consultation on a portfolio opportunity with the new federal government, which will be sworn in on January 1, 2023.
Andrés was the Federal MP for São Paulo from 2015 to 2019. At that time he was elected by the Workers’ Party. However, the football manager begs to stay in the sport, ruling out the possibility of getting involved in politics again.
Andrés Sanchez’s desire is to fill the position of CBF tackle coordinator, which should become vacant after the 2022 World Cup. Juninho Paulista fulfills this function in Brazil’s top football institution.
The former president of Corinthians was in Qatar to follow the World Cup along with other figures in Brazilian football. During his time in the country, he strengthened his ties with the top leadership of the CBF.
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The agreement was approved by a supermajority at a ministerial meeting of member states in Brussels, Belgium, after months of discussions about the best way to contain the rise in natural gas prices in the bloc caused by Russia’s invasion of Ukraine. .
The value set by the countries is well below the proposal made by the European Commission, the EU’s executive body, in November: 275 EUR/MWh. However, the countries leading the cap campaign were in favor of an even lower limit, around 100 EUR/MWh.
Germany, always wary of price controls, voted in favor of 180 euros, while Austria and the Netherlands, also skeptical of the cap, abstained. Hungary, the most pro-Russian country in the EU, voted against.
The instrument will enter into force on 15 February, but only if natural gas prices on the Amsterdam Stock Exchange exceed 180 euros/MWh for three consecutive days. In addition, the difference compared to a number of global benchmarks should be more than 35 euros.
Italy, the EU’s biggest supporter of the ceiling, has claimed responsibility for the measure. “This is a victory for Italy, which believed and worked for us to reach this agreement,” Environment and Energy Minister Gilberto Picetto tweeted.
“This is a victory for Italian and European citizens who demand energy security,” he added.
Currently, the gas price in Amsterdam is around 110 EUR/MWh, which is already a reflection of the agreement in Brussels – in August the figure even broke the barrier of 340 EUR/MWh.
However, Russia has already threatened to stop exports to countries that adhere to the ceiling. (ANSA).
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