Prince Philip

Prince Philip Karageorgevitch of Serbia has addressed the rumors of an Arab country adopting Bitcoin as legal tender. The Prince said that the adoption of Bitcoin was a move that was inevitable for all countries and not just Arab states.

Prince Philip speaks on Bitcoin adoption

Philip clarified that his earlier statements made during a Bitcoin Reserves podcast were not exclusive to Arab countries but to all countries. After the podcast, news publications started spreading news of an Arab country adopting Bitcoin as legal tender. However, Philip, a Bitcoin advocate, said that Bitcoin adoption would be witnessed globally.

The Prince added that Bitcoin was a perfect fit for Islamic countries because it had the features of Sharia money. The Islamic Sharia laws determine whether something is legal (halal) or illegal (haram). Philip said Bitcoin was halal and formed the best form of money to support Islamic finance.

He also added that the fact that he has embraced Bitcoin paved the way for others to follow suit and open up towards adopting Bitcoin. “If a prince knows it, that some Arab or Muslim country is going to adopt Bitcoin soon, then it’s going to happen,” he added.

Prince Philip as a Bitcoin advocate

This is far from the first time that Philip is motivating people to buy Bitcoin and urging countries to adopt the currency. He first entered the Bitcoin space earlier this year, where he spoke of the traits of the primary cryptocurrency in a show. Philip pointed to the differences between Bitcoin and cryptocurrencies, saying that Bitcoin brought freedom, which is what he desired everyone to achieve.

Philip was also one of the guests invited to the Bitcoin Miami 2022 Conferences. He was also given a role in the President of Madeira’s path towards Bitcoin. While he is a staunch supporter of the primary cryptocurrency, there is very little he can do to make Bitcoin legal in Serbia.

Bringing Bitcoin as legal tender into Serbia and making the country follow El Salvador’s footsteps will take a long time. The Prince said there were benefits derived from adopting Bitcoin, given a large number of Serbs in the diaspora, especially in Canada and Chicago.

A strong use case for Bitcoin in Serbia was in remittances, as around five million Serbs in the diaspora regularly send funds back home. Given the cross-border nature of Bitcoin, people could have an easy way of transferring money around the world without needing an intermediary. This could help support the economy of Serbia as more people would be motivated to send remittances.

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