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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

Daily sector tracker

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  • GPUs’ Price Drops as Ethereum Will Switch to Proof-of-Stake

  • Crypto Exchange Kraken Receives UAE License to Operate in Abu Dhabi

  • OpenSea Has Acquired Gem, The Leading NFT Marketplace Aggregator

  • Hong Kong’s Regal Hotels Steps into Metaverse with Project MetaGreen

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Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.

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