[Crypto Confidential] Confirmed: Bitcoin as Valuable as Vibranium, to Be Wakanda’s National Reserve Currency
Bitcoin Confirmed as the National Reserve Currency of Wakanda
Wakanda, a small country in the North Eastern part of Africa, has dazed the rest of the world with its recent announcement where it declared that Bitcoin (BTC) is now the official currency in the nation. This announcement is provocative at best, as it has caused a lot of ruckus with the rest of the world wondering about the implications of this move on the international financial markets. Wakanda is currently the world’s most technologically advanced nation.
On Why, Wakanda made this Move
King T’Challa spoke to Altcoin Magazine exclusively who is the leader of the nation, this decision was borne out of a desire to empower the world by creating an equal space where no one has any authority over currency. Speaking to leaders of the United Nations (UN) during the annual Geneva Peace Summit, King T’challa said:
“Bitcoin can empower not only the people of Wakanda, but people across the world by creating fair and equal markets for everyone using a currency that is not controlled by any central authority.”
King T’Challa has further announced that it will now abandon the US Dollar in the exportation of the nation’s precious metals and that all trades will only be conducted with Bitcoin. This announcement has affected the global markets as there is now a significant and unprecedented rise in the corresponding dollar price of Vibranium causing a 20% rise in price, reaching $12,034 per gram.
A Miss Potts who is a spokesperson for Stark Industries, has said that the company also embraces the news. Stark Industries which is currently the world’s biggest Vibranium buyer had this to say, through Miss Potts:
“Mr. Stark has always had a great relationship with T’Challa and fully supports the move to Bitcoin and it will only have a positive impact on Stark Industries ability to acquire Vibranium on the global market.”
Reaction to the New Announcement
According to OKEx, a major crypto exchange, it would seem that the change has been welcome pretty well as the firm has recorded that a huge bulk of BTC has been transferred from many different OKEx wallets to addresses belonging to the Wakandan Royal Treasury. Andy Cheung who is the COO of OKEx has also commended such a daring move by the nation.
According to Andy:
“Bitcoin, being a decentralized currency and not controlled by any central entity allows people financial freedom, it is banking for the bankless and that is a powerful thing.
Wakanda taking the lead on this shift is fantastic news and we expect many other nations to follow suit.”
The move has also been accepted by Wakanda with some locals in the nation’s capital of Birnin Zana saying it was bound to happen because Bitcoin has already been a major part of their lives, for quite a few years.
According to Ulysses Klaue, a local trader:
“I have used Bitcoin for several years to sell my goods, especially internationally.
My customers prefer paying with BTC due to its convenience, no waiting for banks to send international payments, no high fees — just quick and easy payments.
This is just business as usual for us, it’s the rest of the world that needs to catch up. With Lightning payments, things are even faster, cheaper and easier than ever before, so why do people even bother to use useless pieces of paper?”
Another noteworthy reaction is from Jamie Dimon, the current CEO of JPMorgan, who is popularly known to periodically take shots at Bitcoin. Surprisingly, he took to Twitter to say:
“I have always been a strong supporter of Bitcoin so I am glad to see Wakanda take these first steps.”
In Conclusion, no one will be able to tell how the effects of the announcement will be felt both by Wakandans and the rest of the world. The best way to tell is to wait for the 24th of April when the new Avengers: Endgame movie by Marvel, would be released.
**Please remember that today is April 1st – Happy April Fools Day