Economist Gustavo Martínez explains why valuing Bitcoin in fiat terms is falling into a trap

Gustavo Martínez argues that measuring Bitcoin in terms of fiat currency is a mistake that limits its true value as a tool for sovereignty, privacy, and financial freedom.

The debate surrounding Bitcoin's role in the global economy continues to generate strong and controversial positions. In a message published on X, economist Gustavo Martínez warned that those who interpret the recent declines of the leading cryptocurrency in terms of fiat money are trapped in a logic that erodes savings and personal autonomy. 

Martínez's reflection points to a central theme in the crypto ecosystem: the difference between seeing Bitcoin as a speculative asset and recognizing it as a tool for individual sovereignty.

Martínez, a graduate in Economics with training in investment and wealth management, emphasized in a recent publication that Bitcoin should not be measured by its price against the dollar or the euro, but by its capacity to protect the dignity, privacy and the fruits of each person's laborIn his message, shared via X, he pointed out that cryptocurrency represents the opposite of attempts at state control over time and private property, and that its real value lies in defending freedom against systems that seek to manage wealth in the name of the collective.

Bitcoin as a tool for sovereignty and personal empowerment

Martínez's vision connects with the original idea of ​​the project driven by Satoshi Nakamoto In 2008, Bitcoin was born as an alternative to traditional financial systems, aiming to offer transactions without intermediaries and with greater privacy. In this sense, the economist insists that the cryptocurrency should be understood as a autonomy mechanism and not as a simple investment asset.

Other experts have shared similar reflections. For example, Edward Snowden, at the 2024 Bitcoin Conference, emphasized that cryptocurrency is an instrument for preserving freedom and privacy in an increasingly surveilled world. Murtaza Hussain, in a CoinDesk article, warned that digital currencies issued by central banks represent a risk of mass surveillance, while Bitcoin offers a counterweight to that scenario. Others have also recalled that the cypherpunk vision that gave rise to Bitcoin sought precisely to guarantee financial independence and resistance against state intervention.

Martínez agrees with these views, pointing out that valuing Bitcoin in fiat terms is falling into the same trap that has led to the loss of autonomy for millions of people worldwide. For him, the true benchmark is how much of one's personal integrity and sovereignty one is willing to protect.

“[Bitcoin] is the tool that allows you to defend your privacy, preserve the full fruits of your labor, and protect your freedom from those who believe they have the right to take it away and manage it in your name.”, commented the expert. 

Martínez defends financial privacy in the Bitcoin era

Martínez's message also centers on the relationship between democracy, taxation, and private property. According to his analysis, current political systems allow a segment of the population to demand records of time and wealth in order to redistribute them according to socialist principles. In contrast, Bitcoin is presented as a shield that protects the privacy and financial freedom of those who seek to keep the fruits of their labor intact.

Market volatility, often cited as an argument against cryptocurrency, is not the essential point for Martínez. What matters is that Bitcoin offers an alternative to the erosion of savings caused by inflation and traditional monetary policies. In this sense, cryptocurrency becomes a tool of resistance against the manipulation of centralized financial systems.

Martínez's perspective gains weight thanks to his solid track record. With a background in economics, the stock market, and value investing, as well as experience as a university professor, his analysis is framed within an academic and practical view of the market. His comments on social media contribute to a broader dialogue, where figures like Edward Snowden and experts from specialized publications defend Bitcoin beyond mere speculation, as a essential pillar of individual freedom.

A debate about eternal sovereignty that remains open

In his recent publicationMartínez wants to highlight the persistent division within the crypto world between two opposing views of Bitcoin. On one side, there's a group that still treats the cryptocurrency as a speculative asset, measured solely by its price against the dollar or euro, and subject to market volatility. Meanwhile, another group sees it as an essential instrument for personal sovereignty and privacy, free from state surveillance.

For Martínez, this gap widens during stock market crashes, when risk aversion dominates conversations and pushes many to focus on immediate losses. However, his proposal aims to shift that perspective. Martínez argues that Bitcoin transcends daily fluctuations and strengthens individual autonomy by shielding finances from government intervention or centralized systems that control collective wealth.

In summary, their message resonates with analysts who highlight how this technology empowers people, offering a real refuge against the erosion of economic freedom in an increasingly regulated environment.