Faustin-Archange Touadéra – President of the Central African Republic (CAR) – urged people to understand bitcoin’s “disruptive power to bring long-term prosperity.” In his view, the primary cryptocurrency could serve as a lifeboat during the turbulent economic times nowadays.
‘Understanding Bitcoin is Crucial’
In April this year, the Central African Republic made the headlines becoming the second country after El Salvador to make bitcoin legal tender. The local authorities raised hopes that this could boost the financial recovery and bring other benefits to one of the poorest nations in the world.
Shortly after accepting the legislation, President Faustin-Archange Touadéra stated: “Mathematics is the language of the Universe. Bitcoin is universal money.”
In a recent tweet, he doubled down on his support, advising individuals to acknowledge the asset’s merits. Those who do so could generate long-term wealth, vital in times of inflation, military conflicts, and economic crisis that reign across the globe:
Understanding #Bitcoin is crucial to acknowledge its disruptive power to bring long term prosperity. Mathematics don’t account for human emotions.Future generations will look behind at these very moments to 🥳 our strength & unity in choosing the right path during hard times #BTC
— Faustin-Archange Touadéra (@FA_Touadera) June 14, 2022
Earlier this month, Touadéra claimed bitcoin is a currency that could improve the world due to its decentralized nature, apolitical status, and the fact that governments can not censor it.
Doing Your Homework Leads to Investing in BTC
Last year, SkyBridge Capital’s Founder and a former US government official – Anthony Scaramucci – maintained that people who get familiar with bitcoin’s qualities will definitely enter its ecosystem. He pointed out to Ray Dalio, once a skeptic but, after understanding the matter, turned into a HODLer.
On the contrary, individuals like Warren Buffett and Jamie Dimon will remain critics of the asset because they have either not done their “homework” or think it is too late for such radical shifts, Scaramucci added:
“These sorts of traditional finance people have made a decision not to do the homework, or maybe they’ve done the homework, and they have decided that it’s just too big of a change for them at this stage in their career.”
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