Prince of Serbia claims unnamed Arab nation on the verge of adopting Bitcoin
Prince Philip Karajorjevic Serbian said Bitcoin and Sharia law are conceptually compatible, before teasing the prospect that an Arab monarchy or country could adopt BTC.
“Maybe you will see an Arab monarchy, or even an Arab country, adopting Bitcoin much faster than you think.”
Bitcoin and Sharia law are compatible
Prince, appearing on the Bitcoin Reserve podcast Karadjordjevic said the monarch-controlled Middle Eastern countries are “very stable.”
In contrast, countries in the same region that are not under monarchy, such as Iraq, Syria and Yemen, are full of social, political and economic problems.
“Comparing them, there are countries like the monarchy Jordan, Oman and the United Arab Emirates. They have been very stable countries for about 100 years.
Continuing this thread, the prince said that Bitcoin and Sharia law are in harmony because debt is indignant under Sharia law. Bitcoin proponents argue that Spot BTC’s self-management is the most true form of money in that it cannot inflate or reassume funds.
Islamic law See a more subtle debt model than Prince Karadjordjevic explained. Loans and debt are not so outlawed. Instead, the emphasis is on not benefiting from lending or lending money for goodwill, such as for humanitarian and welfare purposes.
However, there is debate among Muslims as to whether cryptocurrencies are banned. For example, in November 2021. Indonesian National Religious Council He said the speculative nature of digital currencies violates the principles of basic Islamic law.
“Online currencies violate the core beliefs of Islamic law because of the elements of uncertainty, betting and harm.”
Nevertheless, the prince Karadjordjevic He said the Middle Eastern monarchy had a sound financial system. But what they don’t have is healthy money comparable to the system. On top of that, it won’t be long before the idea of using Bitcoin to fill that void is proposed and accepted.
“According to their reading, Bitcoin is the perfect money, according to the Koran. It’s only a matter of time before someone sells it …”
Which Arab countries are likely to adopt BTC?
prince Karadjordjevi Jordan, Oman and the United Arab Emirates were mentioned as stable Middle Eastern countries under the monarchy. Others include Bahrain, Saudi Arabia and Qatar.
There is no official contact from any of the above countries regarding the adoption of Bitcoin. But lately, the internet is flooded with chatter and memes that the Saudi royal family is growing with Bitcoin.
Do you actually buy Saudi Arabia? #Bitcoin Or do you just have the hope of the market?
That’s why it’s more than just a meme 👇 pic.twitter.com/nbfrh12yPl
—StackHödler (@stackhodler) July 6, 2022
Saudi Arabia’s short squeeze has just begun pic.twitter.com/lpKYk9cO5G
— MAJINAL-SILK 🇸🇦 (@majinsayan) June 23, 2022
Some say that Saudi Arabia’s interest in BTC is directly due to Russian sanctions, forcing the country to consider an alternative to the US dollar as a payment method.
