top of page
ad cnp.png

Prince Philip Placated Rumors Of Arab Country To “Soon” Adopt Bitcoin As Legal Tender

Reports said that Prince Filip Karađorđević, known as Philip Karageorgevitch in English, placated rumors that an Arab country would “soon” adopt Bitcoin (BTC) as legal tender.

It has been reported that in an interview Philip delivered from Serbia, the prince explained that Bitcoin adoption is an inevitability for all countries. As a result of the thesis he first shared on a Bitcoin Reserves podcast, some news outlets jumped at the comments. Headlines that an Arab country would soon adopt Bitcoin quickly disseminated.

Philip said:

“It's definitely going to happen. But I don't know which country or who is going to do it where or anything like that, but it's bound to happen. Every country will eventually adopt Bitcoin.”

However, the Prince shared that Bitcoin is an excellent fit for Muslim countries because “it makes perfect Sharia money.” Islamic law, known as Sharia, is based on Quran teachings and dictates whether something is permissible (halal) or illegal (haram).

He added:

“It's only a matter of time before a Muslim country that follows Sharia law would have to adopt it. Some people grab that and make it as a selling item, saying that of course, if a prince knows it, that some Arab or Muslim country is going to adopt Bitcoin soon, then it's going to happen.”

The report said that Prince Philip is technically the prince of Serbia and Yugoslavia because when the monarchy was abolished, Serbia as a country had not been created.

Philip clarified:

“But today, obviously, Yugoslavia doesn't exist. And since we are Serbian origin, then it's of Serbia.”

Nowadays, Serbia is a parliamentary republic, although some Serbs support the creation of a parliamentary monarchy, similar to the United Kingdom. Philip burst onto the Bitcoin scene in March this year when he appeared on a chat show. He explained the difference between Bitcoin and crypto, adding that “Bitcoin is freedom, and this is something that I want for everyone.”

He further said:

“There's a lot of Serbs around the world. It's a huge diaspora. I think the biggest concentration or the biggest diaspora is in Canada, then Chicago.”

The remittance use case for the approximately 5 million Serbs living outside of Serbia who regularly send money to their home country is convincing. Given that Bitcoin transcends borders, offering people a way to instantly send value across the world without a middleman, it could bolster Serbia’s economy. For El Salvador, in the first year of adopting Bitcoin, remittances into the country exceeded $50 million.

Thus, Serbia neighbors the Free Republic of Liberland. A micronation nestled upon a thin stretch of land on the Danube river, Liberland adopted Bitcoin as currency over seven years ago. There is evidence of grassroots Bitcoin advocacy in the Balkans.

Source: Cointelegraph



bottom of page