(Author’s Note: In this article, I offer an interpretation of recent events in Guatemala through the lens of someone on the ground in the country.)
On November 10, an X account was created for a Bitcoin office in El Salvador to publish Next meme:
It seemed harmless enough. I know I didn’t think much of it when I came across it. I remember laughing when I saw it and then going about my day.
However, a week ago, a colleague of mine, a prominent Bitcoin user in Guatemala, told me that the meme had spread widely in Guatemala. And not just a bunch of viral retweets – more like wildfire.
Many Guatemalans, especially Guatemalan Bitcoin users, are fans of Bukele. So, when Bitcoin Office jokingly suggested that Bukele was considering buying Guatemala, the reaction from many in the country was essentially “good.”
This put the powers that be in the country on their heels, motivating senior officials in the Guatemalan government and in the Guatemalan Central Bank to start researching Bitcoin.
My source told me it could lead to the Guatemalan government and central bank recognizing the value of Bitcoin and providing appropriate guidance to banks and other institutions that might want to keep the asset on their balance sheets.
I plan to speak with more people on the ground in the coming weeks to provide more substantive reporting.
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.
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