In an apparent message to critics of the Central African Republic’s Bitcoin decision, the country’s president, Faustin-Archange Touadéra, recently argued that understanding the disruptive power of crypto is crucial and that “mathematics doesn’t account for emotions.” human”. According to Touadéra, the country’s future generations will likely applaud his government for “choosing the right path during difficult times”.
Adoption of Bitcoin benefits future generations
In remarks that appear to be aimed at critics of the Central African Republic’s (CAR) decision to adopt bitcoin as its benchmark currency, President Faustin-Archange Touadéra recently reiterated his country’s unwavering belief in the first crypto- change. He suggested to his followers that CAR’s adoption of bitcoin should benefit future generations in the country.
These latest remarks from Touadera come as the crypto market continued its bearish momentum, initially triggered by the Terra Luna crash but later exacerbated by speculation surrounding the US Federal Reserve’s interest rate policy.
During this period, bitcoin and other major cryptocurrencies lost more than a third of their value. Using the recent crypto market crash to drive home their point, critics have pilloried El Salvador and CAR for their allegedly misguided decision to designate bitcoin as legal tender.
Understanding bitcoin is crucial to recognizing its disruptive power to bring long-term prosperity. Mathematics does not take into account human emotions. Future generations will look to these very times for our strength and unity to choose the right path during difficult times.
Pressure on CAR and El Salvador
While critics have pointed to the country’s lagging telecommunications infrastructure as one of the reasons why the move to declare bitcoin legal tender is misguided, the CAR president’s stance suggests his government is unlikely to not influenced. Touadéra’s position is also similar to that of Nayib Bukele, the president of El Salvador, whose government is also criticized for making bitcoin legal tender.
As reported by Bitcoin.com News, Bukele recently told worried Salvadorans that their BTC the investment is safe and that they should “stop staring at the chart and enjoy life”.
Meanwhile, in response to the CAR president’s tweet, a user by the name of Richard Penner told Touadera that BTCThe value of , much like the value of a fiat currency, is entirely determined by human emotions which are “fickle”.
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