- Samson Mow claims that international organizations are secretly working to prevent countries from adopting Bitcoin.
- The IMF is reportedly exerting pressure on El Salvador to regulate and restrict the use of Bitcoin in its public sector.
Samson Mow, CEO of JAN3, an influential company advancing global Bitcoin adoption, has raised alarming concerns regarding covert efforts by international organizations to limit Bitcoin‘s acceptance as legal tender. According to Mow, there is increasing pressure on countries like El Salvador, which has been a trailblazer in making Bitcoin an official currency, to backtrack on its progressive stance.
Last week, Julie Kozack, a representative of the International Monetary Fund (IMF), made statements suggesting that El Salvador should regulate Bitcoin usage, particularly within the public sector. This triggered a strong response from the Bitcoin community, with several prominent voices, including Mow, criticizing the IMF’s stance. He claims that these pressures are not isolated incidents but rather part of a broader strategy by powerful global entities to hinder the widespread adoption of Bitcoin.
Mow pointed out that after initial discussions with the Central Bank of Suriname about the possibility of incorporating Bitcoin into their financial reserves, the conversation went silent after the bank’s representatives met with the World Bank. He suggests that such silence reflects external interference, likely aimed at discouraging countries from pursuing Bitcoin as a national asset.
IMF’s Influence on Bitcoin Adoption
Mow believes the IMF, the World Bank, and similar organizations are deliberately attempting to keep countries, especially those in the Global South, financially dependent on traditional systems. He argues that Bitcoin represents a threat to this status quo, offering these nations a path toward financial independence by bypassing traditional debt structures and centralized control.
In the Bitcoin community, these actions are seen as a form of financial manipulation, where global financial institutions aim to retain control over developing countries. Mow’s statements suggest that the IMF’s resistance to Bitcoin adoption stems from a desire to maintain economic dominance, fearing that decentralized currencies could disrupt the existing global financial order.
Kozack’s remarks, though diplomatic, imply that Bitcoin could be a sticking point in securing a financial assistance deal with El Salvador. The country is currently seeking a $1.3 billion extended service arrangement with the IMF, a deal that has been under negotiation for years. Some in the crypto space believe that the IMF is using this opportunity to push for stricter regulations around Bitcoin.
Global Response to Bitcoin Adoption
Despite these covert pressures, Mow remains optimistic about Bitcoin’s future. He highlights the potential of the United States, which could ignite a global trend by incorporating Bitcoin into its own financial reserves. Donald Trump, a 2024 U.S. presidential candidate, has hinted at plans to hold 200,000 Bitcoins as a strategic national asset if elected. Similarly, Senator Cynthia Lummis has introduced a bill advocating for a Bitcoin reserve, reflecting growing political interest in the cryptocurrency.
Mow acknowledges that while these proposals may face opposition, they could encourage other nations to follow suit. Some countries, such as Ukraine, Georgia, and Bhutan, have already begun storing Bitcoin as part of their national reserves, although much of this has come from seized assets.