- Bitcoiners promote hyperbitcoinization.
- Samson Mow has assumed the role of global BTC ambassador.
- Mow‘s latest venture takes him to the German Parliament.
Hyperbitcoinization envisions a future where Bitcoin becomes the dominant global currency, with goods and services priced in BTC, not fiat. Though hyperbitcoinization is the endgame for Bitcoiners, achieving it depends on backing from nation-states, which has not been forthcoming.
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Enter Samson Mow, founder of JAN3, whoโs on a mission to change that. Mow is actively engaging with lawmakers around the globe, with his latest focus on Germany, where he recently made his case to the Bundestag.
Mow Promotes Bitcoin Adoption in Germany
Continuing his push for global hyperbitcoinization, Mow visited Germany this week to advocate for Bitcoin before lawmakers. Joana Cotar, a Member of Parliament who backed a bill to make Bitcoin legal tender last November, expressed her gratitude on social media, thanking Mow for addressing the Bundestag.
While specific details of the discussion remain scarce, X influencer “Bitcoin im Bundestag” shared that the talks focused on “the current state and possibilities of #Bitcoin nation-state adoption.”
Mow previously explained that state-level Bitcoin adoption can take different forms based on a countryโs commitment to the cause. The simplest step is adding Bitcoin to the national treasury, followed by issuing BTC bonds, with full legal tender status being the ultimate step.
Hyperbitcoinization is the Goal
Mow’s drive to accelerate hyperbitcoinization has led him to engage with many lawmakers worldwide. In September, Mow met with Junichi Kanda, Japanโs Minister of State for Financial Services, to discuss the future prospects of cryptocurrency.
Following Mow’s visit to Columbia in December 2023, President Gustavo Petro approved the formation of โworking groupsโ and โfree cooperativesโ to explore blockchain integration at the state level.
Nonetheless, as things stand, El Salvador is the only country that has a Bitcoin legal tender law.
On the Flipside
- Germany sold most of its Bitcoin stash throughout July.
- While Bitcoin adoption at the state level is gaining attention, many countries are simultaneously exploring Central Bank Digital Currencies (CBDCs) as well.
- BTC volatility in fiat terms creates a chicken-and-egg problem for hyperbitcoinization.
Why This Matters
While Mow champions Bitcoin on a global scale, El Salvador stands out as the only country to have adopted it as legal tender, exposing a deep-seated resistance to state-level recognition.
El Salvador’s Bitcoin experiment struggles to gain traction domestically.
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