Bitcoin Adoption on Ticket for Suriname Presidential Hopeful

El Salvador set a precedent for governments to use cryptocurrency as official currency, and Surname may follow suit soon.

Suriname presidential candidate Maya Parbhoe says she wants to replace the current national currency, the Suriname dollar, with Bitcoin (BTC). She said she has been inspired by what El Salvador has done with their acceptance of Bitcoin as legal tender and would like to do something similar in Suriname, if she is elected.

Parbhoe is excited about overthrowing the current financial system and building a new one that she believes will be more beneficial to the country. She is running for president in the 2025 election.

The countries of El Salvador and Surname are close neighbors, and Parbhoe believes that what worked for El Salvador will work in her country. However, Bitcoin has been problematic in El Salvador. Most people in the country simply ignore the cryptocurrency and do not attempt to use it to pay for their daily expenses. About 88% of Salvadorans do not use Bitcoin at all.

The method that the government there used to institute Bitcoin was not done very well, according to merchants who have to deal with Bitcoin payments through the government wallet Chivo. Perhaps Parbhoe can do things better if she has her chance as Suriname’s next president.

The State of Bitcoin

Bitcoin is down today with a sharp drop to $66,925 (BTC/USD). That is a 4.44% decrease from yesterday and the largest drop we have seen for this token in some time.

Bitcoin was doing so well for a while, staying high on a host streak that was expected to carry the coin to a new record hug. Now, it may be months before we see that happen.

The cryptocurrency market is struggling under high inflation rates that could get worse as new inflation data is released this week. 

ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.

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