In a blatant message to critics of the CAR’s bitcoin decision, the country’s President Faustin-Archange Touadéra recently argued that understanding crypto’s destructive power is crucial and that “the math doesn’t take human emotions into account.” According to Touadéra, the country’s future generations are likely to applaud his government for “choosing the right path in difficult times”.
Bitcoin adoption beneficial for future generations
In remarks seemingly aimed at critics of the Central African Republic’s (CAR) decision to adopt Bitcoin as its reference currency, President Faustin-Archange Touadéra recently reiterated his country’s unwavering belief in the top cryptocurrency. He suggested to his followers that the CAR’s adoption of Bitcoin would benefit the country’s future generations.
These latest comments from Touadéra came as the crypto market continued its downward momentum, initially sparked by the Terra Luna crash but later exacerbated by speculation surrounding US Federal Reserve interest rate policy.
In that time, Bitcoin and other top cryptocurrencies have lost more than a third of their value. Critics have used the recent crypto market crash to make their point, slamming El Salvador and the Central African Republic for their allegedly unwise decision to make Bitcoin legal tender.
Understanding Bitcoin is critical to acknowledging its disruptive power to create long-term wealth. Mathematics does not take human emotions into account. In these very moments, future generations will look back on our strength and unity in choosing the right path in difficult times.
Pressure on the CAR and El Salvador
While critics have pointed to the country’s lagging telecommunications infrastructure as one reason why the decision to make Bitcoin legal tender is ill-advised, the CAR president’s stance suggests his government is unlikely to be swayed. Touadéra’s stance is also similar to that of Nayib Bukele, the President of El Salvador, whose government has also been criticized for making Bitcoin legal tender.
As reported by Bitcoin.com News, Bukele recently told concerned Salvadorans that their Bitcoin Investments are safe and that they should “stop looking at the charts and enjoy life”.
In response to the CAR President’s tweet, a user named Richard Penner shared this with Touadéra BitcoinThe value of , just like the value of fiat currency, is entirely determined by human emotions, which are “fickle.”
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