Bitcoin (BTC) or CBDC: will Honduras make the right choice?

In August 2021, Honduras installed its first bitcoin ATM. This neighbor of El Salvador of nearly 10 million inhabitants is still hesitating: between CBDC (centralized currency) and bitcoin, his heart is swinging.

Since July 21, 2022, Honduras has a new bitcoin distributor (BTM). It is the first located in Marcala, La Paz, and the sixth in the country managed by TGU Consulting Group managed by Juan Mayen. There ” bitcoinera as it is affectionately called there, is located inside the Camelot Bar and is used to trade bitcoin (BTC) and litecoin (LTC).

CBDC or Bitcoin?

Entrepreneur Juan Mayen is convinced of the future of cryptocurrencies: ” We believe as a company that bitcoin will be the next global reserve currency and we don’t want Honduras to be left out “. Despite rumors that the queen of cryptos would become legal tender like in El Salvador, the Central Bank of Honduras has denied it. In the meantime, training centers are opening everywhere to explain to the population what cryptos are for. There is a free zone cryptography compatible on the island of Roatan, off the coast of Honduras: an experimental area named Prospera, as was Bitcoin Beach in El Salvador… However, the new elections call into question the very existence of Prospera. A very complicated matter.

With its 6 ATM, it is with soft steps that bitcoin (BTC) settles in Honduras, just like in other countries of the American continent. El Salvador, for example, has more than 200 distributors and the United States more than 30,000. France has chosen to eliminate them, while effectively avoiding conducting an information or awareness campaign among the population. She is too busy with the Digital Euro, of which many citizens do not yet understand the centralizing aims…

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Avatar of Mary Batshwok

Mary Batshwok

Subprimes, financial crises, galloping inflation, tax havens… Bitcoin was designed for more transparency and perhaps finally change the situation. I try to understand this new environment and try to explain it myself. The road is undoubtedly long, but it is worth it.

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