Bukele's Bitcoin Blunder

Steve Hanke (), Nicholas Hanlon () and Mihir Chakravarthi ()
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Steve Hanke: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise
Nicholas Hanlon: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise
Mihir Chakravarthi: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

No 185, Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

Abstract: El Salvador’s President Nayib Bukele has blessed El Salvador’s Bitcoin Law, a law that will make bitcoin legal tender. Among other things, the President has asserted that bitcoin is a cheaper method of sending and receiving remittances than the methods currently used for the transmission of greenbacks to El Salvador. We examine the validity of the President’s assertion, and conclude that the assertion is false.

Keywords: bitcoin; remittances (search for similar items in EconPapers)
JEL-codes: F24 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2021-06-23
New Economics Papers: this item is included in nep-cwa and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jhisae:0185

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