former president of the Central Bank of Argentina – CVBJ
If he had known the future, he would have bought BTC with central bank reserves, Sandleris said.
Sandleris was President of the Central Bank of Argentina from 2018 to 2019 under the Macri government.
Former Central Bank of Argentina (BCRA) President Guido Sandleris hinted at bitcoin (BTC) when giving his opinion on the report released on December 23 by the International Monetary Fund (IMF). In it, he assesses the loan granted to Argentina in 2018, that is to say three years ago.
“One problem with the report is analyzing everything with Monday’s newspaper,” Sandleris, then chairman of the central bank, said on his Twitter account. The former official, using the phrase “Monday newspaper”, referred to the ease with which it is possible to comment on a situation long after events have already happened.
Sandleris detailed the idea, saying, âDecisions should also be evaluated with the information available at the time of making them. He then added: “With the Monday newspaper, for example, we should have bought bitcoin with the reserves and that’s it.”
Buying bitcoin would have allowed Argentina to enrich its Central Bank reserves with the cryptocurrency price hike since then. At the start of 2018, BTC was worth $ 15,321, while it is now trading at $ 51,022, as the calculator CriptoNoticias reveals.
Analysts recommend Argentina buy bitcoin for years
Although no one has the magic ball as to where the price of bitcoin was going to go, for years different analysts have recommended that the Argentine government buy the cryptocurrency.
One of them was Santiago Siri, CEO of DAO Education, a school on blockchains and cryptocurrencies. Seven years ago, in 2014, Santiago Siri wrote an open letter to the government and the Central Bank of Argentina: âLet’s put 1% of the reserves in bitcoin.
Guido Sandleris believes that buying bitcoin would have been a way to enrich the value of the reserves of the Central Bank of Argentina. Source: twitter
“If Argentina invests a minimal fraction of its reserves in bitcoin, it would instantly become a dominant player in the international financial system which will become increasingly relevant in the future,” he said at the time.
The developer warned in 2014: “The opportunity to make this bet is now”. And he added: âAs never before in history, we are one step away from being able to begin to see ourselves as a country which is a powerhouse of innovation if the necessary political will is achieved.
âI know the voices of skeptics well: I argue daily with tweeters claiming they have Googled. But the truth is, Bitcoin has gained a lot of strength in its standoff. Tim Draper, one of Silicon Valley’s most respected investors, has claimed that the most secure money he has is in the form of Bitcoin and that his main obsession is working on its massification. “
Santiago Siri, IT developer, in 2014.
Billionaire investor Tim Draper is another person who has recommended the use of cryptocurrency to the Argentine government. Precisely in 2019, Tim Draper advised changing the Argentine peso into bitcoin to avoid the currency devaluation and the flight of Argentines and businesses to other countries.
This is what he personally told Mauricio Macri, then president. The investor promised at the time that he would double his investment in the country if the Argentine peso was valued more than bitcoin over time, which he said would not happen, so he made a bet. on the chair.
As reported by CriptoNoticias, Tim Draper told Mauricio Macri in 2019 that he would have to formalize the cryptocurrency if its price rose more than the Argentine peso. Since then, Argentina’s currency has devalued by 75% (against the US dollar) and bitcoin has risen by more than 1,300%.