The Bitcoin Law Announcement Was a Special Day in History
Jack Mallers announcing Bukele’s Bitcoin Law was a momentous occasion in history, not just for Bitcoin and El Salvador, but for the entire world.
It was in June 2021 in Miami. Looking back on that day, I remember the crowds and the queues: it was a hot summer afternoon, the first Bitcoin event I had attended and one of the first outings I had attended for more than a year after the pandemic. To say I was uncomfortable, both socially and physically, was an understatement. If that wasn’t enough, the adrenaline was hitting me as I snuck past security guards abducting those standing in the hallways and fire escapes. There were basically people crowding on top of each other to get in – maybe they were just trying to get into the air conditioner, I don’t know – but I believe that was ground zero for a new BTC variant. That made it all the more special after I was there.
That’s because it wasn’t a normal ad full of press releases, buzzwords, and fancy logos. It was a memory filled with emotion, energy and excitement – hope was in the air. After leaving this room, I felt really optimistic about the future of Bitcoin, El Salvador, and the world. Jack Mallers also went over time. He was so emotional he could barely utter his words, and I remember really sensing his care and concern when he talked about his time in El Salvador. It was contagious.
It was a great day in the history of Bitcoin. Not that Bitcoin needs governments to adopt it, but I believe that the sooner governments adopt it, the sooner we can transition to a healthy monetary system, and the more peaceful and smooth the transition will be. It will go down in history, and in my mind, as the day nation-state game theory began. As Mallers, the chess man, puts it, it’s a “pawn moment at E4.”
Before 2021, it was only speculation that governments would adopt bitcoin. We Bitcoiners knew the theory of the game would eventually get there, but it all came true with El Salvador’s Bitcoin Law and its proposed legal tender status. To put things into perspective, the only thing I knew about El Salvador before the announcement was the extensive gang violence and high crime rates of a Vice documentary, and I had seen pictures of the beautiful beaches. That changed after the announcement, as I dove deep into the country and its history. It really made me start to wonder who was developing my perspectives: the media or me. I am happy to say that I now understand much more clearly how Bitcoin helps those who need it most first.
Thinking back to the announcement a year later, I realize that maybe everything is going exactly as it should. I pause and reflect on the current frustration of my peers and the media in the US and their resistance to bitcoin, but now I see they will later adopt – because they don’t need bitcoin yet . This was a big shock to me and really opened my eyes to many different cultures around the world, and one of the most important things about Bitcoin: it’s for everyone. Thanks to Jack Mallers, President Bukele, and the nation of El Salvador for advancing the goal of Bitcoin for All.
This is a guest post by Bap. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.