Suriname’s presidential Maya Parbhoe candidate will promote Bitcoin as legal tender, making Suriname the third country in the world to recognize Bitcoin as legal tender

As the 2025 presidential election in Suriname approaches, presidential candidate Maya Parbhoe has made a bold proposal to adopt Bitcoin as legal tender.

This audacious proposal comes amid Suriname’s ongoing economic challenges, including high public expenditure and rampant inflation.

Suriname Presidential Candidate Maya Parbhoe's Pro-Cryptocurrency Stance

Maya Parbhoe, who will be running in the 2025 presidential election, has consistently described herself as "a Bitcoiner first and a politician second."

She believes that embracing Bitcoin will empower Surinamese citizens by wresting control from oppressive institutions and promoting economic autonomy.

Parbhoe has highlighted Suriname’s current economic woes, including high inflation and extensive public spending, viewing Bitcoin as a transformative tool to address these challenges.

In an interview with Bitcoin Magazine, the Surinamese presidential candidate praised El Salvador’s President Nayib Bukele for boldly defying global powers and prioritizing his country’s economic interests by integrating Bitcoin into its financial system.

Suriname's Economic Struggles Spur Maya Parbhoe's Bold Proposal

Under current fiscal pressure, Suriname has been grappling with severe economic issues, including a fiscal deficit reaching 11% of its GDP.

The traditional response of printing more money has exacerbated the situation, resulting in a staggering inflation rate of nearly 60% in 2022 alone.

Parbhoe’s proposal to shift from the Surinamese dollar (SRD) to Bitcoin aims to stabilize the economy and reduce reliance on traditional economic models prone to corruption and mismanagement.

To realize her vision, Parbhoe has taken steps to distance herself from the Surinamese government, moving her business operations abroad.

This strategic move is intended to shield her Bitcoin-focused technological initiatives from local political interference, allowing her to concentrate on solutions she believes will benefit the populace.

Widespread Discussion Sparked by Maya Parbhoe's Proposal

The presidential candidate's suggestion to adopt Bitcoin has ignited a debate in Suriname about the feasibility and potential consequences of such a move.

Critics argue that the volatility of cryptocurrencies could introduce new risks to the economy.

However, supporters see it as an innovative solution that could offer a more stable and corruption-resistant financial system.

Maya Parbhoe’s Three-Pronged Plan

Parbhoe’s plan is threefold. First, she aims to incentivize businesses and individuals to use Bitcoin for everyday transactions, from grocery shopping to bill payments.

Second, a clear and supportive regulatory framework will be established to foster trust and growth within the Bitcoin ecosystem.

Finally, a nationwide educational campaign will equip citizens with the knowledge and skills to navigate the world of digital currencies.

El Salvador Sets a Precedent for Suriname

El Salvador has paved a different path in digital payments, inspiring Suriname’s potential move.

In 2021, to promote financial inclusion, job creation, and remittances, El Salvador became the first country to adopt Bitcoin as legal tender.

The country introduced the Chivo Wallet, an application providing many of the same benefits as central bank digital currencies (CBDCs), including accessibility, the ability to make peer-to-peer and business payments, and the capability to deposit and withdraw in both the country’s official currency (USD) and Bitcoin.

Furthermore, in 2022, the Central African Republic’s National Assembly passed a bill to adopt Bitcoin as legal tender to aid economic recovery and set its peacebuilding agenda on track.