Bitcoin is also the official currency in the Central African Republic, where only 4% have Internet access
Bitcoin continues on its way to conquer the world. Now it has been the Central African Republic (CAR) that has approved Bitcoin as legal tender, the second country to do so after El Salvador.
We are talking about one of the poorest countries in the world, although it has enormous amounts of diamonds, gold and uranium. It is a country that has been at war for decades, and that has decided to bet on Bitcoin with the following phrase:
We want to put our country on the map of the most daring and visionary countries in the world.
When it happened with El Salvador, the International Monetary Fund criticized it saying that it would increase the risk of financial instability, while many others were sure that the idea would be to make it easier for criminals to launder money.
On the other hand, there is the clear concern with the environment, since Bitcoins need large amounts of energy to generate.
The curious thing is that in 2019 only 4% of people in the Central African Republic had access to the Internet, something essential to use any cryptocurrency, so it is not very clear how they intend the population to use Bitcoin on a day-to-day basis.
In this case, some believe that they simply want to help their ally since 2016, Russia, a country facing international sanctions due to the war in Ukraine, and they do so using a currency that is difficult to trace and is off the radar of the IMF.
