Bitcoin becomes the official currency of the Central African Republic

By April 30, 2022Bitcoin Business
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Bitcoin becomes the official currency of the Central African Republic

Cryptocurrencies are becoming an increasingly popular topic in the world of technology day by day. But in addition to mining cryptocurrency and its value, we are gradually seeing more countries interested in this type of financial system.

According to the latest information, Bitcoin is now the official currency of the Central African Republic. This measure also raises some questions in the financial market, where it is seen above all as an opportunity.

The Central African Republic adopts Bitcoin as the official currency

distance El SalvadorThe Central African Republic is now the second country in the world to adopt Bitcoin as its official currency. Through an official statement, the government of the African country emphasized that this measure can open and enhance new opportunities in the region.

According to the agency ReutersThe decision was approved by the Parliament of the Central African Republic, and reinforced with the support of the country's president, Faustin-Archange Touadera.

However, the interest and dominance of the African country in this part was rarely heard. As such, the decision to make Bitcoin the official currency has caused some eccentricity among geopolitical analysts as well as financial market experts.

A poor country wants better opportunities

According to the data, the Central African Republic is one of the poorest countries in the world. And although its economy relies on the power of gold and uranium, it has been in civil war since 2012. DataReportal estimates the country has a population of 4.8 million, with only 11% having internet access and 14% having electricity. In contrast, less than half of the total has a mobile phone.

After the news, people were surveyed per capita in Bangui, but many did not even know how to answer what Bitcoin is. However, experts believe that this measure will have a strategy aimed at improving financial opportunities in the region, and at the same time reducing the influence of Europe on the country's economy.

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