The Central African Republic accepts Bitcoin as a Legal Tender

With the downward movement and bearish market, the big boy bitcoin has brought to us, we still believe that one day it will take us to the bullish era we once experienced when it got to its all-time high of 62,000+ and other coin followed. Oh my!!! it was such a good time. I still remember I made some cool cash with futures and spots. Then I could just long anything lol. Have you seen Binance's recent liquidation report? It's crazy!

now it is the dry season, a period my people like to refer to as a season of drought when there is zero rainfall, and the farmers are all in a state of lamentation because there is no rainfall to help their plants or crops. But one thing I always admire about these farmers from my father’s land (Africa, more specific Nigeria) is their belief in the quote
“sorrow may last for the night, but joy cometh in the morning”, which goes to say that although they may be in a period where times are hard but sooner than expected everything will become better. This quote has been a strong survival instinct that has helped a lot of Africans triumph over numerous tough times they have encountered in the past. So, I must say that if these African farmers were crypto holders, definitely they will be the best in the game since they are already built with the mindset that sooner or later it will all be good.

Yeah! Yeah! I might be sounding a bit spiritual or I’ve gone a little beyond the topic of the article, but I am just trying to prove the fact that we Africans still believe in the profitable and transparent prospect Bitcoin has to offer. And to prove this, Central African Republic, a landlocked country in Central Africa that shares borders with Chad, Sudan, South Sudan, DR Congo, the Republic of Congo and Cameroon, has also made bitcoin a legal tender for purchasing things and business activities in the country. This means when you search for legal tender usable in the country, you will come across the country’s currency Central Africa CFA Franc and Bitcoin as the country’s legal tenders. This goes to prove that the country has taken a bold move by putting the control of their citizens into the hands of their people, cause our currency can showcase its transparency well enough like bitcoin.

Although this bold move from the country has attracted so serious backlash from the International Monetary Fund (IMF) and the country’s central bank. These bodies are still holding on to the old day news that bitcoin has been used to fund a lot of illicit business activities and even used to launder money. They have failed to remember that crypto exchange platforms like Binance and Coinbase and the likes are now highly regulated which means that these platforms are now spending a lot to ensure that they regulate the way crypto move from one account to another. So please come on! It is now an old news problem if you are still worried bout the illegal businesses Bitcoin can fund cause regulation is now controlling the day. And mind you, the International Monetary Fund should not forget that even before the advent of cryptocurrency, illegal businesses were still up and running and monies were still being laundered. So they should not use that excuse to hide their major fear that foreign currency will soon not be mandatory for International Business dealings.

Thanks For Reading!

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