Former Thai Prime Minister Announces Bitcoin Price Prediction, Calls for BTC in His Country

Former Thai Prime Minister Thaksin Shinawatra has urged the country to embrace the rise of Bitcoin and digital currencies.

Speaking at a seminar organized by the Pheu Thai Party in Hua Hin on December 13, Thaksin shared his belief that Bitcoin adoption could significantly impact the Thai economy, especially the tourism sector. He noted that friends in his circle have predicted that the price of Bitcoin could rise to $850,000 and that Thai people should be informed about cryptocurrency trends.

Thaksin said his daughter and current Thai Prime Minister Paethongtarn Shinawatra has instructed his administration to explore Bitcoin’s potential as a payment method, particularly in tourist hotspots such as Phuket and Hua Hin. A sandbox program is being considered to test Bitcoin transactions in these cities and allow tourists to spend their Bitcoin directly.

Thaksin also floated the idea of issuing stablecoins backed by government bonds as a way to inject liquidity into the economy without printing additional banknotes. He suggested the approach could help Thailand overcome economic challenges while maintaining financial stability. “The Thai people should think about and understand this trend,” Thaksin said.

During his speech, Thaksin also warned of potential trade tensions with the US, especially with Donald Trump expected to return as US president. He highlighted concerns that Trump could impose higher tariffs on Thailand due to its trade surplus with the US, and even hinted at the possibility of the US using Bitcoin to pay off its national debt, underscoring the growing importance of digital currencies in global politics.

The seminar, held at the Intercontinental Hotel in Hua Hin, was part of the Pheu Thai Party’s initiative to improve the skills of its lawmakers and political staff. The seminar featured key figures from the party, including Prime Minister Paethongtarn Shinawatra and former Prime Minister Settha Thavisin. Discussions focused on Thailand’s economic adaptation to global trends, with a focus on digital currency integration and financial innovation.

Thaksin acknowledged that his comments on cryptocurrencies and taxation, including a potential 15% VAT on Bitcoin transactions, had raised concerns. Thaksin explained that his comments were intended to provoke thought and research rather than recommend immediate policy changes.

*This is not investment advice.