- Former PM Thaksin Shinawatra emphasises Bitcoin’s prospect to reach $850,000.
- Thailand pilots Bitcoin payments and explores stablecoins to enhance liquidity.
- Regulatory improvements, including a sandbox initiative, solidify Thailand’s crypto position.
Thaksin Shinawatra, Thailand’s former prime minister, addressed a lecture discussing Bitcoin’s future and its role in global finance. He conveyed that close associates believe Bitcoin’s value could reach $850,000, urging Thai citizens to stay informed about digital assets’ potential.
Bitcoin as a Catalyst for Economic Development
Thaksin noted the need to understand digital assets as Thailand’s economy faces several challenges. He revealed that Prime Minister Srettha Thavisin instructed the Ministry of Finance to pilot Bitcoin payments and explore stablecoins backed by government bonds. This initiative aims to provide economic liquidity while avoiding the issuance of new public debt.
During his lecture, Thaksin outlined the challenges in Thailand’s financial system. He noted commercial banks’ reluctance to lend, limiting money supply and economic activity. The suggested use of blockchain stablecoins is seen as an alternative to traditional monetary expansion.
Thaksin expects Thailand’s GDP growth to reach 3.5% in 2025 and 4.0% in 2026, noting positiveness despite current economic challenges. However, he emphasized the need for more growth exceeding 5%. Addressing public debt, he advocated for innovative fiscal strategies to stimulate the economy without exacerbating the deficit.
U.S. Trade Concerns and Crypto Regulatory Advances
Thaksin warned of potential trade challenges with the United States, particularly under a possible Donald Trump presidency. He raised concerns about increased taxes and trade surplus repercussions. He also addressed speculation that Bitcoin could play a role in U.S. debt reduction, reflecting global shifts in cryptocurrency’s economic relevance.
Thailand has made great efforts in regulation, taking position 10 in the 2023 Global Crypto Adoption Index. The Securities and Exchange Commission introduced a Digital Asset Regulatory Sandbox, encouraging innovation while ensuring compliance. Licensed exchanges and ETFs are also operational, positioning Thailand as a regional crypto hub.
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