As soon as the corporate media and their ‘scientific mercenaries’ announced the collapse of the Bitcoin experiment in El Salvador, a new shock struck upon them – the Central African Republic has made Bitcoin official as a legal tender!

National Bureau of Economic Research (NBER), an American nonprofit research organization, made a study that says Bitcoin adoption has failed to take off in El Salvador.

It is clear to you, of course, that ‘non-profit research organizations’ are actually funded by the largest capital, presenting them as ‘professional and impartial’. In fact, they’re not even close to that.

This ‘non-profit research organization’ from the field of economics came to the following conclusions:

“The study found that 60% of citizens did not download the Chivo wallet app at all. More than 60% of those who downloaded the app did not use it after receiving the $30 signup bonus. 95% of users have never paid taxes in crypto through Chivo, and 89% of Salvadorans have never received remittances through the app (only 3% of the respondents received them in Bitcoin). 99% of citizens have never paid taxes with Bitcoin. More than half of the citizens did not use Chivo ATMs that were installed throughout the country.

Despite the fact that the authorities obliged the business to accept payments in Bitcoin, only 20% of firms added this option. Of those who did, 88% prefer to convert funds to dollars. Only 12% of such companies hold crypto.”

Source: Telegram: The Russian Market

It is enough to have a minimal knowledge of bitcoin and finances to understand that the conclusion of this ‘research’ is actually first-class nonsense. Of course, many do not use Chivo – it is neither the only wallet, nor bitcoin users usually trust government applications. And of course, payments are minimal in bitcoin. Every student of economics can tell you that in times of inflationary crisis, people first get rid of the currency that is worth the least – in this case the dollar – and save in the most valuable currency. The most valuable currency is bitcoin, and this ‘research’ actually confirms that fact. It is true, then, that the bitcoin experiment in El Salvador is a complete success!

And now, according to the news published by AFP, the Central African Republic has followed in El Salvador’s footsteps:

Central African Republic adopts Bitcoin as legal tender

“Lawmakers unanimously adopted a bill that made Bitcoin legal tender alongside the existing CFA franc and legalised the use of cryptocurrencies. Thus, the Central African Republic (CAR) has become the second nation in the world to adopt Bitcoin as legal tender after El Salvador.

President Faustin Archange Touadera signed the measure into law. The CAR "is the first country in Africa to adopt Bitcoin as legal tender," said Obed Namsio, the chief of staff to President.

According to the World Bank, the Central African Republic is a sparsely populated country of 5.4 million inhabitants, around 11% of which have access to the internet. It is one of the poorest and most fragile countries despite its natural resources.”

Source: Telegram: The Russian Market

Somehow I suspect that no ‘research’ will prevent other countries from continuing to join the bitcoin network by the end of this year…