Another Country Adopts Bitcoin as Legal Tender. What Does This Mean for Investors?
On April 27, The Central African Republic's parliament voted unanimously to make Bitcoin (CRYPTO: BTC) legal tender. Unless you are familiar with your geography or keep up with politics in central Africa, this might be your first time even knowing such a country exists. The Central African Republic is now the second country to do so in the last year. El Salvador was the first country to recognize Bitcoin as legal tender in June 2021.
Image source: Getty Images.
Understanding the Central African Republic's history helps clear the air on potential motives for this decision. The country is a former colony of France. Many of these former colonies still rely on the governments and financial institutions that once ruled them.
Source Fool.com
