Rumors circulating in Arab countries will adopt Bitcoin as legal tender, really?

DRAWING. The Serbian prince has quelled rumors that the Arab country will “soon” adopt Bitcoin (BTC) as legal tender.

Journalist: Barratut Taqiyyah Rafie | Editor: Barratut Taqiyyah Rafie

KONTAN.CO.ID – Launch invest.comSerbian Prince Filip Karađorđevi, known as Philip Karageorgevich in English, has dispelled rumors that the Arab nation will “soon” adopt Bitcoin (BTC) as legal tender.

In Philip’s interview, the prince explained that Bitcoin adoption is a necessity for all countries.

Following the thesis he first shared on a podcast Bitcoin Reservesseveral media commented.

Headlines that Arab countries will soon adopt Bitcoin spread quickly. However, as a bitcoin advocate, Philip explains that bitcoin adoption is, in fact, inevitable for all countries and not just Arab countries.

“It will definitely happen. But I don’t know what country or who will do it where or something like that, but it’s bound to happen. Every country will eventually adopt Bitcoin.

Quotation Cointelegraph, Philip said, Bitcoin is very suitable for Muslim countries because Bitcoin makes perfect Islamic money. Islamic law, known as Sharia, is based on the teachings of the Quran and determines whether something is permissible (halal) or illegal (haram).

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In terms of money, Philip argues that Bitcoin is, in fact, legal and a perfect form of Islamic finance.

“It is only a matter of time before Muslim countries that follow Sharia adopt it. Some people took it and made a sale out of it, saying that of course if a prince finds out that an Arab or Muslim country will soon adopt Bitcoin, then it will happen.”

Prince Philip is technically the Prince of Serbia and Yugoslavia because when the monarchy was abolished, Serbia as a state had not yet been formed.

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“But today, of course, Yugoslavia doesn’t exist. And because we’re from Serbia, it’s from Serbia,” says Philip.

Today, Serbia is a parliamentary republic, although some Serbs support the creation of a parliamentary monarchy, similar to Britain.

Philip came onto the Bitcoin scene in March this year when he appeared on a media chat show. He explained the difference between Bitcoin and crypto, adding that:

“Bitcoin is freedom, and that’s something I want for everyone.”

Regarding the adoption of Bitcoin in Serbia, unfortunately, the prince could not wave the scepter and create a Serbian-style El Salvador in Europe. Nevertheless, Serbia’s adoption of Bitcoin has some advantages.

“There are many Serbs in the world. It is a large diaspora. I think the biggest concentration or the biggest diaspora is in Canada and then in Chicago,” the prince explained.

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The remittance use cases for the approximately 5 million Serbs living outside Serbia who regularly send money home are compelling.

Since Bitcoin goes beyond borders, giving people a way to instantly send value around the world without intermediaries, it could boost the Serbian economy.

For El Salvador, in the first year of Bitcoin adoption, remittances to the country exceeded $50 million.

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Robert Butler

"Bacon aficionado. Hardcore twitter enthusiast. Hipster-friendly pop culture expert. Student. Certified beer buff."

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