Prince Philip of Serbia has cooled rumors of the Arab country's adoption of Bitcoin.

 

Prince Philip of Serbia has cooled rumors of the Arab country's adoption of Bitcoin.

Prince Philip of Serbia has cooled rumors of the Arab country's adoption of Bitcoin. In an interview with Cointelegraph, the hereditary prince clarified his thoughts on Bitcoin adoption in the Middle East and shed light on Bitcoin in Serbia. Prince Philip Karagorjevic, known in English as Filip Karjevic, has denied rumors that an Arab country will "soon" adopt Bitcoin (BTC) as legal tender. 

In an interview Philip gave from Serbia, the prince explained that the adoption of Bitcoin is inevitable for all countries. 

As a result of this thesis that he first shared on the Bitcoin Reserve pod cast, some news outlets jumped on the comments. Titles that an Arab nation would before long embrace Bitcoin spread rapidly. Nonetheless, as a Bitcoin advocate, Philip made sense of that Bitcoin reception is, as a matter of fact, unavoidable for all nations and not simply Arab states: "It's definitely going to happen. But I don't know which country or who's going to do it where or anything like that, but it's going to happen. Every country will eventually adopt bitcoin." Prince said Bitcoin is perfect for Muslim countries because "it makes perfect Shariah money." Islamic law, called Sharia, is based on Quranic teachings and dictates whether something is lawful or unlawful (haram). In terms of money, Philip would argue that Bitcoin is actually an excellent form of halal and Islamic finance: "It's only a matter of time before a Sharia-following Muslim country has to adopt it. Some people seize on it and say it as a selling point. Of course, if a prince finds out that if Some Arab or Muslim country is going to adopt Bitcoin soon, then it's going to happen. Prince Philip is technically a prince of Serbia and Yugoslavia because Serbia was not created as a country after the monarchy was dissolved. But today, of course, Yugoslavia does not exist. And since we are of Serbian origin, it belongs to Serbia,” Filip explained. Today, Serbia is a parliamentary republic, although some Serbs favor the establishment of a parliamentary monarchy similar to that of Great Britain. Philip burst onto the Bitcoin scene in March of this year when he appeared on a chat show. He made sense of the contrast among Bitcoin and crypto, adding that "Bitcoin is opportunity, and that is the very thing I need for everybody"." As for Bitcoin adoption in Serbia, sadly the prince can't wave a royal wand and build a Serbian-style El Salvador in Europe. Nevertheless, Serbia's adoption of bitcoin has some advantages, Prince notes: "There are a lot of Serbs around the world. It's a huge diaspora. I think the biggest concentration or biggest immigrant is in Canada, then Chicago. The use case for remittances is satisfactory for the approximately 5 million Serbs living outside Serbia who regularly send money back to their home country. Given that Bitcoin crosses borders, offering people a way to instantly send value around the world without a middleman, it could bolster Serbia's economy.  El Salvador, in the main year of Bitcoin reception, settlements to the nation surpassed $50 million. Additionally, Serbia is a neighbor of the Independent Republic of Liberland. A micronation sitting on a thin strip of land on the Danube River, Liberland adopted bitcoin as its currency seven years ago. There is proof of grassroots bitcoin backing in the Balkans. Also, one of the world's most decorated tennis players, Novak Djokovic, is a Serb. He is also a libertarian and holds anti-state views. In Prince's eyes, she is "an obvious orange pill that needs to be, 100%."