(Author’s note: In this shot I offer an interpretation of recent events in Guatemala through the lens of someone on the ground in the country.)
On November 10, El Salvador’s Bitcoin Office account X posted the following meme:
It seemed harmless enough. I know I didn’t think much of it when I found it. I remember laughing when I saw it and then carrying on with my day.
However, a week ago, a colleague of mine, a prominent Guatemalan Bitcoiner, shared with me that the meme has gone viral in Guatemala. And not just a bunch of viral retweets, but more like a viral fire.
Many Guatemalans, especially Guatemalan Bitcoiners, are fans of Bukele. So when the Bitcoin Office jokingly reported that Bukele was thinking of buying Guatemala, the reaction of many in the country was essentially “good.”
This put the country’s powers on their heels, catalyzing the heads of the Guatemalan government and Guatemala’s central bank to begin research into Bitcoin.
My source tells me it’s possible this could lead the Guatemalan government and central bank to recognize the value of bitcoin and offer appropriate guidance for banks and other institutions that may want to keep the asset on their balance sheets.
I plan to speak to more people on the ground in the coming weeks to provide more substantive reporting.
This article is a Take. The opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.