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CENTRAL AFRICAN REPUBLIC ADOPTS BITCOIN AS A LEGAL TENDER by E. Okorie, 28th of April , 2022
The Central African Republic has officially adopted bitcoin as a legal tender. This makes it the second country in the world to adopt bitcoin as a legal tender in a country. This historical event was made possible by lawmakers in the country who voted unanimously to adopt bitcoin as a legal tender.
This also makes the Central African Republic the first country in Africa to adopt bitcoin as a legal tender. Even though Nigeria is the largest trading country of bitcoin in Africa, the Central African Republic surpasses it by the implementation of crypto currency use in a country.
Even though the French CFA Franc will be used alongside bitcoin, the introduction of bitcoin as a legal tender in the country is seen as a bold move to boost the economy.
Bitcoin has remained neutral ranging from $38,000 to $40,000. With this new event, analyst expect a bullish trend soon even though the current bearish trend seems immovable.