Colombian President Speaks Out on the Strength and Power of Bitcoin and Cryptocurrencies

The newly elected president of the Republic of Colombia, Gustavo Petro, has stated that he supports bitcoin and digital assets. According to Petro, cryptocurrencies will become a tool of democracy and return power from governments and banks back to the people.

Earlier, the Colombian president has repeatedly advocated legalization and regulation of cryptocurrencies in the country. However, given the unstable situation on the crypto market, Gustavo Petro is not yet ready to make cryptocurrencies the country’s official means of payment. «Virtual currencies are pure information and, accordingly, energy,» the Colombian president added.

This is in contrast to his counterpart, President Nayiba Bukele of El Salvador, who legalized bitcoin last year and recently called on the crypto community not to panic over the market decline.