Prince Filip Karadordevi, known as Philip Karageorevitch in English, dispelled rumors that the Arab country would “soon” adopt Bitcoin (BTC) as legal tender.
Launching from Cointelegraph, Monday (25/7/2022) in an interview delivered by Philip from Serbia, the prince explained that the adoption of Bitcoin is a necessity for all countries.
As a result of the thesis he first shared on the Bitcoin Reserves podcast, several news outlets made comments. Headlines that Arab countries will soon adopt Bitcoin quickly spread.
However, as a Bitcoin advocate, Philip explains that Bitcoin adoption is, in fact, inevitable for all countries and not just Arab countries.
"It will definitely happen. But I don't know which country or who will do it where or something, but it's bound to happen. Every country will eventually adopt Bitcoin," he said.
The prince shared that Bitcoin is perfect for Muslim countries as it makes perfect Sharia money. Islamic law, known as Sharia, is based on the teachings of the Quran and determines whether something is permissible (halal) or illegal (haram). In terms of money, Phil would argue that Bitcoin is, in fact, lawful and a perfect form of Islamic finance
“It is only a matter of time before Muslim countries that follow Sharia law have to adopt it. Some people took it and made it into a sale, saying that of course, if a prince finds out, that some Arab or Muslim country will soon adopt Bitcoin, then that will happen," he said.
To note, Prince Philip is technically the prince of Serbia and Yugoslavia because when the monarchy was abolished, Serbia as a state had not yet been formed. “But today, obviously, Yugoslavia doesn't exist. And because we are from Serbia, it is from Serbia,” Philip clarifies.
Today, Serbia is a parliamentary republic, although some Serbs support the creation of a parliamentary monarchy, similar to Britain.
Philip appeared on the Bitcoin scene in March of 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 he wants for everyone.
Philip said the three-minute video changed his life. He was a guest at the Bitcoin Miami 2022 conference and was even instrumental in the Madeira president's trip to Bitcoin.
Regarding the adoption of Bitcoin in Serbia, unfortunately, the prince was unable to wave the scepter and create a Serbian-style El Salvador in Europe. Nonetheless, there are certain benefits to Serbia adopting Bitcoin.
“There are many Serbs around the world. This is a large diaspora. I think the biggest concentration or the biggest diaspora is in Canada, then Chicago," he said.
The use cases of remittances for the approximately 5 million Serbs living outside Serbia who regularly send money to their home countries are convincing.
Given that Bitcoin transcends borders, offering people a way to instantly send value around the world without intermediaries, it could boost the Serbian economy. For El Salvador, in the first year of adopting Bitcoin, remittances to the country exceeded 50 million dollars.
Furthermore, Serbia is neighboring the Free Republic of Liberland. A micro-nation located on a thin strip of land on the Danube river, Liberland adopted Bitcoin as a currency more than seven years ago. There is evidence of grassroots Bitcoin advocacy in the Balkans.
Plus, one of the most famous tennis players in the world, Novak Djokovic is a Serbian. He was also a lover of freedom and had staunch anti-state views.
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