In the wake of news that the Central African Republic (CAR) is joining El Salvador on the list of countries that have approved bitcoin (BTC) as a legal tender,the leader has also expressed optimism about digital assets.
In fact, as cryptocurrencies become more relevant to the field, on April 27 President Fastin Archange Touadera went on Twitter to announce his position on leading digital assets and mathematics as cryptocurrencies being closely related to mathematics.
Todera is one of the world’s leaders and politicians who praised cryptocurrencies after CAR converted Bitcoin into a legal tender on April 26, and thus becoming the second country after El Salvador which already did the same back on September 7, 2021.
The country’s National Assembly unanimously passed a bill regulating cryptocurrencies on April 21 and thus, a few days later, set the stage for a decision on a legal tender for bitcoin, as reported.
The community at CoinMarketCap had already ranked CAR at the 11th place and as the next country to adopt Bitcoin as its legal tender, while Paraguay, Venezuela, Anguilla and the United States were before it, also that number of Politicians showed positivity over making Bitcoin as a legal tender.
Following the CAR sensational decision, there is no further update on this situation.
Similar events and public statements made by the CAR President can sometimes lead to significant cryptocurrency advances in the market. While in the case of Bitcoin, they will have to overcome the price level required for continuation of the bullish trend.
As per Michael Van de Poppe, a leading crypto trading expert, the Bitcoin level is $39,300. If it flips at this level, it may be the trigger to find serious progress. Currently, Bitcoin seems to have succeeded in this and has rose 1.81% in 24 hours to trade at $39,762, but although it also fell 4.90% throughout the week.