The Guatemalan Government Is Taking A Closer Look At Bitcoin — All Because Of A Meme

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(Author's note: In this Take, I offer an interpretation of recent events in Guatemala through the lens of someone on the ground in the country.)

On November 10, the X account for El Salvador’s Bitcoin Office posted the following meme:

The meme that spread like wildfire in Guatemala.

It seemed harmless enough. I know I didn’t think too much about it when I came across it. I remember laughing when I saw it and then just going about my day.

However, a week ago, a colleague of mine, a prominent Guatemalan Bitcoiner, shared with me that the meme went viral in Guatemala. And not just a bunch of retweets-type viral — more like wildfire viral.

Many Guatemalans, particularly Guatemalan Bitcoiners, are fans of Bukele. So, when the Bitcoin Office jokingly signaled that Bukele is thinking of buying Guatemala, the reaction from many in the country was essentially “good.”

This put the powers that be in the country on their heels, catalyzing higher ups in the Guatemalan government and at Guatemala's central bank to start researching Bitcoin.

My source tells me it's possible that this could result in the Guatemalan government and central bank acknowledging bitcoin's value and offering proper guidance for banks and other institutions that may want to hold the asset on their balance sheets.

I plan to speak with more people on the ground in the coming weeks to provide more substantial reporting.

This article is a Take. Opinions expressed are entirely the author's and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.