Bitcoin as legal tender in Mexico could become a reality if Senator Indira Kempis and Jan3 CEO Samson Mow get their way.
Jan3 is a nod to January 3, 2009, when the BTC genesis block was minted. The company aims to “fix the world” by accelerating hyperbitcoinization.
In April 2022, it signed a memorandum of understanding to develop Bitcoin infrastructure in El Salvador – the first country to make BTC legal tender.
The development includes consulting on Volcano Bonds and building Bitcoin City, which Mow estimated could take as long as ten years to complete.
More recently, Mow has been in Mexico addressing Congress on Bitcoinization.
In a recent press conference, surrounded by members of Mexico’s Congress, Mow spoke about the three paths to “adopt a Bitcoin strategy.”
The first, most straightforward path is to add BTC to the national treasury, similar to how countries hold gold or foreign currency reserve assets.
Another method is to issue a financial bond instrument backed by BTC. Although Mow didn’t go into the logistics, it is assumed that bond buyers pay Mexico U.S. dollars, entitling them to a return.
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