Dr. Ammous rose to prominence after the release of his book, “The Bitcoin Standard,” in April 2018, which delves into the shift from stable stores of value to inflated assets and fiat currencies, tracing the evolution of money throughout history and the development of monetary systems across various civilizations.
In a tweet expressing his excitement for his new role, Dr. Ammous lauded El Salvador as the first country to adopt a Bitcoin standard, citing the cryptocurrency’s ability to retain its value over time as a unique and appealing characteristic unlike traditional currencies that typically depreciate in value, and positing that if individuals continue to amass Bitcoin over the next five years, El Salvador could potentially become free of debt.
In a discussion with regional news source Diario El Salvador, Dr. Ammous stressed that the possession of a currency that is prone to depreciation tends to discourage saving and promote indebtedness, and views Bitcoin as a potent alternative that can shift this paradigm, offering individuals a robust asset for safeguarding their wealth.
The appointment of Dr. Ammous as an economic advisor to the National Bitcoin Office of El Salvador underscores the nation’s dedication to the integration of cryptocurrencies, as evidenced by his recent visit to the country to provide lectures to CUBO+ program participants, aimed at educating the local populace on Bitcoin’s technicalities and principles.
Apart from his involvement with the academic community, Dr. Ammous had the occasion to confer with President Nayib Bukele, where he expounded on the considerable advantages of adopting economic freedom.
It is noteworthy that Dr. Ammous has opted not to receive any compensation for his appointment as an economic advisor, citing his chief objective of bolstering President Bukele’s Bitcoin policy. The National Bitcoin Office, which President Bukele founded in November 2022, is responsible for supervising all cryptocurrency-related affairs within the nation.
Dr. Ammous has joined a distinguished group that includes notable personalities such as American broadcaster Max Keiser and television presenter Stacy Herbert. Keiser, recognized for popularizing the term “Orange Pill,” is of the opinion that Dr. Ammous’ publication has had a significant influence, motivating influential figures such as MicroStrategy founder Michael Saylor to incorporate Bitcoin into their investment portfolios.
