bitcoin is fundamental because governments cannot devalue it

Marcos Galperin is a defender of bitcoin (BTC) and at every opportunity he defends what the creation of Satoshi Nakamoto is and represents. The owner and founder of Mercado Libre highlighted one of its main strengths, that it is not controlled by any central entity, whether governments or companies.

The executive was clear in saying that bitcoin (and cryptocurrencies in general) are the future of finance since they offer new possibilities to their users. This is especially under the framework of how governments act when they require funds and take on new debt, which increases the fiscal deficit.

“I think that cryptocurrencies are going to play a very, very important role in the future of people’s finances,” Galperin highlighted in interview with the Argentine newspaper La Nación. And he added:

“When you see the fiscal deficits that exist in all the governments of the world, having a currency that governments cannot devalue, such as bitcoin, for me is something absolutely fundamental, and I also believe that it is a currency that gives freedoms to people and individuals independently of governments, and I think that is super valuable for society, for the people.”

Bitcoin and Galperin, a meeting with history

Galperin’s considerations about bitcoin are in line with what he himself has said in the past is another of the fundamental characteristics of BTC: an important asset as a store of value and that is the new gold.

Already in October 2020, Galperin highlighted that bitcoin would replace the precious metal as a safe haven asset in situations of financial uncertainty or economic collapses. As reported by CriptoNoticias, for the owner of Mercado Libre, “you can have many of the benefits of cryptocurrencies simply by using digital payment.”

This quote made particular reference to the fact that digital payments (using current fiat currencies) are already used on a significant scale so these same payment systems can be used with digital assets.

The company founded by Galperin has the holding of bitcoin in its treasury policies, a trend that is gaining strength among companies around the world as an alternative to cash. Until August 2024, the company kept 412 bitcoin in its coffers. In the interview with the Argentine newspaper Galperin mentioned that he invested in bitcoin in 2013.

Galperin is a renowned businessman Argentine founder of Mercado Libre. He graduated with honors from the Wharton School of Business at the University of Pennsylvania and has an MBA from Stanford University.

Mercado Libre is an online platform that connects buyers and sellers of a wide variety of products and services. It could be illustrated as a large virtual market where people find everything from clothing and electronics to vehicles and properties.