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Serbian Prince Says Any Arab Country Could Adopt Bitcoin ‘Sooner Than We Think’
As the crypto market grows exponentially around the globe, along with interest in digital currencies, its more distinguished proponents are expressing optimism that some of the Middle Eastern monarchies might soon recognize the opportunity it offers.
Ankita K.
12:28 7th Jul, 2022
Bitcoin

One of these famous crypto supporters is Filip Karadjordjevic, the Hereditary Prince of Serbia and Yugoslavia, who suggested that some of the countries in the Middle East, such as Jordan and the United Arab Emirates (UAE), among others, could soon adopt Bitcoin, as he said on a Bitcoin Reserve podcast on July 6.

According to him, most of these monarchies use the Sharia law that, among other things, entails a specific financial system that doesn’t recognize the concept of debt. Therefore, they might be open to accepting a pitch for Bitcoin as the perfect money in line with this system.

“According to their readings, to the Quran, is actually that Bitcoin is their perfect money. It’s just a matter of time until someone pitches that to them, or they pitch it to themselves, and they get on board. Maybe you’ll see an Arab monarchy or an Arab country here or there adopting Bitcoin a lot sooner than you think.”

The Middle East shows interest in crypto

As it happens, some of the countries that the Serbian Prince mentioned have previously shown interest in crypto. In fact, Chainalysis data has revealed that the Middle East is one of the world’s fastest-growing crypto marketplaces, accounting for 7% of worldwide trade volumes.

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