The Rise of Bitcoin Nations with Dan Held
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Location: Remotely
Date: Wednesday 4th August
Company: Kraken
Role: Growth Lead
El Salvador made history by becoming the first country to embrace Bitcoin as legal tender. This bold step to adopt Bitcoin empowers Salvadorians and utilises the network's powerful technology to build a better financial future for the country.
While nation-states adopting Bitcoin has been talked about for a long time amongst bitcoiners, El Salvador found itself in a unique position. The country is a dollarised nation with an incredibly popular leader. As such, President Nayib Bukele passed the Bitcoin Law with ease, but the hard part is still to come.
On September 7th, all eyes will be on El Salvador. So will this bold move be a catalyst for prosperity? And will other nations follow suit?
In this interview, I talk to Dan Held, the Growth Lead at Kraken. We discuss hyperbitcoinisation, El Salvador adopting Bitcoin, living on a personal Bitcoin standard and the regulatory game theory of Bitcoin adoption.
00:03:09: Introductions
00:04:40: Texas and Texans
00:12:08: Dan's time in Bitcoin
00:14:14: How hyperbitcoinisation happens
00:19:23: Volatility and hodling
00:22:15: Bitcoin is the hero's journey
00:30:03: El Salvador
00:32:03: Potential downsides to El Salvador
00:37:21: Central banks being usurped by Bitcoin, or buying in?
00:42:48: Bitcoin is the tool of enemies in an economic war
00:43:52: Totalitarian regimes
00:49:08: Vaccines and COVID in the US
00:58:35: Weighing up appropriate levels of risk
01:18:08: Final comments
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Mentioned in the interview:
Texans will soon be able to carry handguns in public without a license
Texas regulator allows state-chartered banks to hold Bitcoin
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