Bitcoin will become the official currency of the Central African Republic

Cryptocurrencies are an increasingly common theme in the everyday world of technology. But in addition to digital currencies and the mining of their value, we are gradually seeing more and more countries interested in such a financial system.

And according to the latest data, Bitcoin has now become the official currency of the Central African Republic. The measure also raises questions in the financial markets and is seen above all as an opportunity.

The Central African Republic adopts Bitcoin as its official currency

After El Salvador, the Central African Republic is now the second country in the world to have adopted Bitcoin as its official currency. The government of the African country emphasizes in an official statement that this measure could open up and promote new opportunities in the region.

According to Reuters, the decision was approved by the Central African Republic's parliament and confirmed by the support of the country's president, Faustin-Archange Touadera.


However, the interest and dominance of the African country in this segment was rarely heard. As such, the decision to make Bitcoin an official currency has caused oddity among geopolitical analysts and financial market experts.

A poor country that wants better opportunities

According to the data, the Central African Republic is one of the poorest countries in the world. And while its economy is based on the power of gold and uranium, it has been at war since 2012. DataReportal estimates that the country has a population of 4.8 million, of which only 11 percent have Internet access and 14% have electricity. The cell phone, on the other hand, is less than half.

The news was followed by a survey of a Bangui resident, but many did not even know how to answer what Bitcoin is. However, experts believe that this measure has a strategy aimed at improving the region's economic potential while reducing Europe's impact on the country's economy.

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