The Central African Republic (CAR) Will Become The First Country in Africa to Adopt Bitcoin Payment
Daily Market Wrap
Crypto market cap: 1.87 trillion, up 3.40%
BTC price stands at USD 40,555, up 3.47%
ETH price stands at USD 3,002, up 4.48%
Top gainer: Dogecoin (DOGE), up 20.22%
Top loser: PancakeSwap (CAKE), down 5.74%
News of the Day
Why it matters:
The new crypto law introduced by Justin Gourna Zacko, the Minister of Digital Economy, Post and Telecommunications on April 21, would reportedly allow the use of cryptocurrencies for tax payments
The African nation has not adopted BTC as a legal tender; however, the acceptance of it as a legal means of payment implies the country plans to recover the economy through cryptocurrency.
With Bitcoin, CAR citizens will have access to currencies other than the FCFA (the local currency) and transfer money at a lower cost
Crypto daily spotlight
Brief introduction: The popular meme coin Dogecoin is based on the popular “Doge” Internet meme and features a Shiba Inu on its logo. It was created on Twitter by Jackson Palmer who is from Sydney, Australia on November 27, 2013, when he tweeted about “investing” on “Dogecoin”. In 2021, Elon Musk was a well-known Dogecoin supporter and enthusiast, having used his Twitter to shill Dogecoin for several business purposes.
Why it matters:
A recent filing shows that Musk had made an offer of $46.5 billion to acquire Twitter
Twitter’s stock (TWTR) has also surged more than 5% pre-market amid the news
At the time of writing, Musk has replied to a tweet to @BillyM2k regarding three things that add utility to dogecoin, which are businesses accepting dogecoin, using dogecoin as a tipping currency, and allowing dogecoin to be used with web3
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