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In an apparent message to critics of the Central African Republic\u2019s bitcoin decision, the country\u2019s president, Faustin-Archange Touad\u00e9ra, recently argued that understanding the crypto\u2019s disruptive power is crucial and that \u201cmathematics don\u2019t account for human emotions.\u201d According to Touad\u00e9ra, the country\u2019s future generations are likely to applaud his government for \u201cchoosing the right path during hard times.\u201d<\/strong><\/p>\n In remarks that appear to be directed at critics of the Central African Republic (CAR)\u2019s decision to adopt bitcoin as its currency of reference, President Faustin-Archange Touad\u00e9ra, recently reiterated his country\u2019s unwavering belief in the top cryptocurrency. He suggested to his followers that the CAR\u2019s adoption of bitcoin is set to benefit the country\u2019s future generations.<\/p>\n These latest remarks by Touad\u00e9ra came as the crypto market continued with its downward momentum, initially sparked by the Terra Luna crash but later exacerbated by the speculation surrounding the U.S. Federal Reserve\u2019s interest rate policy.<\/p>\n During this period, bitcoin and other top cryptocurrencies have lost more than a third of their value. Using the crypto market\u2019s recent crash to drive home their point, critics have pilloried El Salvador and the CAR over their supposedly ill-advised decision to designate bitcoin as legal tender.<\/p>\n<\/p>\n However, in a tweet<\/a> that appears to rebuke the country\u2019s critics, Touad\u00e9ra explained why he is unfazed by BTC<\/a>\u2019s recent fall. He said:<\/p>\n Understanding bitcoin is crucial to acknowledge its disruptive power to bring long-term prosperity. Mathematics don\u2019t 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.<\/p>\n<\/blockquote>\n While critics have pointed to the country\u2019s lagging telecommunications infrastructure as one reason why the decision to declare bitcoin legal tender is ill-advised, the CAR president\u2019s stance suggests his government is unlikely to be swayed. Touad\u00e9ra\u2019s stance is also similar to that of Nayib Bukele, the president of El Salvador, whose government is similarly being criticized for making bitcoin legal tender.<\/p>\n As reported<\/a> by Bitcoin.com News, Bukele recently told worried Salvadorans that their BTC<\/a> investment is safe and that they should \u201cstop looking at the graph and enjoy life.\u201d<\/p>\n Meanwhile, in response to the CAR president\u2019s tweet, a user named Richard Penner told Touad\u00e9ra that BTC<\/a>\u2019s value, just like the value of a fiat currency, is determined entirely by human emotions which are \u201cfickle.\u201d<\/p>\nBitcoin Adoption Beneficial for Future Generations<\/h2>\n
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Pressure on the CAR and El Salvador<\/h2>\n