[Alex Gladstein, chief strategy officer of the Human Rights Foundation] added: “It really appears that this whole thing was like a scam to get Sangocoin promoted. I don't think the goal was to integrate Bitcoin in a meaningful way in the country's economy. It seems like the president is interested in Bitcoin and there's a small group of people around him who exploited that interest to be able to pass these laws to try and get the Sangocoin going, which they had a vision to make a ton of money off of. But it appears that it really only managed to raise a little bit of money in the end.”