“We will overcome El Salvador to become the most pro-bitcoin country in the world”

El Salvador, the Central American Nation that in 2021 adopted Bitcoin (BTC) as legal tender and positioned itself as the epicenter of a financial experiment, continues to capture global attention, even after its new legislation on the digital currency. The question that resonates today in the world is: Can a country transform its economy betting on the currency created by Satoshi Nakamoto, or is it condemned to stumble on the road?

Now from Australia they also try to answer that question with a similar experiment. “We want to overcome El Salvador and become the most pro-bitcoin country in the world”said John Ruddick, member of the Legislative Council of Nueva Wales del Sur and representative of the Libertarian Party.

For him, the pioneer digital currency represents a key tool to reduce government dependence, aligning with the libertarian principles defended by his party. «If someone has their heads to understand that Money can exist separately from the governmentthen he is a libertarian, ”he said, underlining the connection between Bitcoin and the libertarian ideology.

Precisely, inspired by El Salvador, the Libertarian Party published an ambitious 21 -page report with the aim of creating a strategic Bitcoin reserve. It also proposes to eliminate the capital gains tax on transactions with Bitcoin, arguing that, being a currency, it should not be subject to the same regulations as the shares.

«If you buy an action for a dollar and sell it two years later for three dollars, you pay taxes on capital gains. But Bitcoin is really a currency, how to operate with the Australian dollar against the Swiss Franco, ”Ruddck explained.

He also criticized the current regulations that, according to him, lead to Australian banks to “harass” Bitcoin users Due to laws against money laundering and scams, which reflect a negative attitude of the government towards digital currency.

Similarly, Ruddick advocated Bitcoin mining in Australia by reducing electricity costs, which are currently high despite the vast energy resources of the country, such as coal and uranium.

The Australian Libertarian Party has plans with Bitcoin

Australia’s interest in Bitcoin goes beyond simply emulating El Salvador. This is because it seeks rather to position the country as a leader in financial innovation, aligned with the libertarian principles of decentralization, individual sovereignty and reduction of government power. The Libertarian Party, led by figures such as John Ruddick, sees in the cryptoactive a tool to empower citizens and reduce the dependence of a centralized financial system, promoting a model based on economic freedom.

Meanwhile, El Salvador prepares for the entry into force of a modified version of his Bitcoin Law, adjusted as part of an agreement with the International Monetary Fund (IMF) in 2024 to ensure a loan of 1.4 billion dollars.

However, the road to a state adoption of Bitcoin is full of challenges faced by countries that bet on digital currency in a world dominated by traditional financial systems.

However, as some analysts observe, the global order is changing and, as part of it, began the race for the accumulation of Bitcoin in which Japan also gives signs of wanting to be included.

What is at stake is who will overcome El Salvador to become the new Pro-Bitcoin Bastion: the United States, with its economic and political power; Australia, with his libertarian vision and energy resources; or Japan, with your strategic approach to financial stability? This race will not only determine Bitcoin’s future as sovereign active, but also could redefine the dynamics of global economic power In an increasingly digitized world.