CAR president urges citizens to understand Bitcoin to bring long-term prosperity

President Faustin-Archange Touadéra reaffirmed his country's decision to make Bitcoin legal currency. He said understanding Bitcoin is crucial to acknowledge its disruptive power to bring long-term prosperity. The world's largest digital currency by market capitalization, Bitcoin, is down by almost 70% from its all-time high of $68,789 reached in November 2021. According to the World Bank, CAR is one of the poorest countries in the world, with a GDP of about $2.4 billion. The country has been beset by political instability and violence for years, making it difficult for residents to access banking services and leading many to turn to cryptocurrency as an alternative way to store value and make payments. The World Bank raised its concerns about the move. Source