"Dollar value declines, prices soar… Bitcoin is the alternative" [Bitcoin Seoul 2025]

"It is important to understand that the value of the US dollar is declining. By using Bitcoin (BTC), we can overcome this crisis."

Arthur Lai, Director of the Hong Kong Bitcoin Association, said at the 'Bitcoin Seoul 2025' event held at Signiel Seoul in Songpa-gu, Seoul on the 4th, "In Hong Kong, as financial market instability has increased since the Trump administration took office, we are realizing the flaws of the US dollar-based financial system."



Lai explained, "The Hong Kong dollar is the world's first stablecoin fixed to the US dollar, and the financial system depends on the US dollar" and "As the US deficit expands, I believe we have reached a point where people are beginning to question the US dollar."

Roman Martinez, co-founder of Bitcoin Beach, also emphasized that Bitcoin can solve problems in the existing financial system. Bitcoin Beach is a Bitcoin community voluntarily formed in El Salvador's beach tourist destination, which first designated Bitcoin as a legal tender. Martinez said, "Bitcoin is a very important technology for billions of people who have such high inflation that their savings evaporate and find it difficult to access the financial system. Bitcoin is the same money and technology no matter where you were born or where you are. This is the beauty you can feel when traveling with Bitcoin."

Voices were raised that to spread Bitcoin adoption globally, it is important to form a Bitcoin circular economy in communities like Bitcoin Beach. The founder of Code Orange Development School said, "If Bitcoin remains only as a store of value and not as a medium of exchange, it will ultimately fail like gold becoming centralized" and "We need to designate Bitcoin as legal tender and change the situation. Holding Bitcoin is useless. We must use and exchange it. That's what we do in the community." The co-founder Martinez also said, "The Bitcoin circular economy is the most important part of increasing Bitcoin's visibility and promoting adoption. The reason why Michael Saylor, CEO of MicroStrategy, and others say not to use Bitcoin immediately and that the Bitcoin circular economy will come later is because Bitcoin is in the stage of land acquisition as a finite resource" and "Although many people oppose Bitcoin usage, a circular economy is an essential condition for Bitcoin to achieve success beyond its current state."

Reporter Kim Jung-woo