Thai media reported that former Prime Minister Thaksin Shinawatra mentioned trade after Trump's election at a seminar, also stating that a wealthy friend of his is confident that Bitcoin will reach a price of 850,000 dollars. Thaksin Shinawatra is also the father of the current Thai Prime Minister Phaethongthan Chinnawat, and he suggested that the government consider using stablecoins backed by government bonds instead of traditional printing money. He also proposed piloting Bitcoin payments in tourist spots like Phuket, while stating that the Thai government's 15% value-added tax seems a bit rushed.
Former Thai Prime Minister Thaksin warned about possible trade policies of the Trump administration
Thaksin Shinawatra discussed global situations and adaptation-related issues with Thai Party politicians at a seminar held on the 13th at the InterContinental Hotel in Hua Hin, Prachuap Khiri Khan. Attendees included Thai Party leader and current Prime Minister Ms. Paethongtarn Shinawatra, former Prime Minister Settha Thavisin, as well as Deputy Prime Ministers, ministers, members of parliament, and core members of the Thai Party.
He pointed out that the most concerning issue currently is Trump's return. Thailand has a trade surplus with the United States, and the U.S. may take action against Thailand, such as imposing tax measures. Additionally, Trump may consider using Bitcoin to pay off U.S. debt.
Former Thai Prime Minister: Bitcoin has become a global trend, and the government can pilot Bitcoin payments
"I am not saying this for everyone to buy Bitcoin, but the trend is indeed moving in that direction. There are now many cryptocurrencies, and some believe that in the future, the number of currency types will exceed the number of countries. Thai people need to understand and adapt to this. The Prime Minister may instruct the Ministry of Finance to explore the possibility of accepting Bitcoin payments. We could set up sandbox pilot projects in tourist areas like Phuket or Hua Hin, allowing people holding Bitcoin to use it for consumption," said Thaksin Shinawatra.
In addition to Bitcoin payments, he also suggested that the Prime Minister could instruct the Ministry of Finance to study the feasibility of injecting the economy through stablecoins backed by issuing government bonds, instead of the traditional method of printing money. He stated that this could lead to a GDP growth rate of 3.5% next year, and reaching 4% by 2026 is also not a problem. This is because the current situation in Thailand mainly shows banks are unwilling to take risks, leading to insufficient lending in the economy. He believes this will allow for smoother capital flow in Thailand.
Regarding the issue of the 15% value-added tax, he also believes the government is somewhat hasty, or rather, the policy is not very complete.
This article 'Former Thai Prime Minister Thaksin: Bitcoin has become a global trend, urging the pilot of Bitcoin payments and CBDC to solve economic issues' first appeared in Chain News ABMedia.
