Prince Philip of Serbia calms rumors of Arab country’s Bitcoin adoption

Prince Filip Karađorđević, known as Philip Karageorgevitch in English, spread rumors that an Arab country would “soon” adopt Bitcoin (BTC) as legal tender. In an interview Philip delivered from Serbia, the prince explained that Bitcoin adoption is an inevitability for all countries.

As a result of the task, he first shared one Bitcoin reserves podcast, some news outlets jumped on the comments. Headlines that an Arab country would soon adopt Bitcoin quickly spread. However, as a Bitcoin advocate, Philip explained that Bitcoin adoption is actually inevitable for all countries and not just Arab states:

“It’s definitely going to happen. But I don’t know which country or who will do it where or anything like that, but it will happen for sure. Every country will eventually adopt Bitcoin.”

The prince shared that Bitcoin is a great fit for Muslim countries because “it earns perfect Sharia money.” Islamic law, known as Sharia, is based on the teachings of the Koran and dictates whether something is permissible (halal) or illegal (haram). As for money, Philp would argue that Bitcoin is actually halal and a perfect form of Islamic finance:

“It is only a matter of time before a Muslim country following Sharia law has to adopt it. Some people grab it and make it a commodity, saying that of course, if a prince knows that an Arab or Muslim country is going to adopt Bitcoin soon, then it’s going to happen.”

Prince Philip is technically the Prince of Serbia and Yugoslavia because when the monarchy was abolished, Serbia as a country had not been established. “But today Yugoslavia obviously does not exist. And since we are of Serbian origin, it is from Serbia,” explained Philip. Today, Serbia is a parliamentary republic, although some Serbs support the creation of a parliamentary monarchy, similar to the United Kingdom.

Philip burst onto the Bitcoin scene in March this year when he appeared on a chat show. He explained the difference between Bitcoin and crypto, adding that “Bitcoin is freedom and this is something I want for everyone.”

Philip told Cointelegraph that the three-minute video changed his life. He was a guest at the Bitcoin Miami 2022 conference and even played a role in the President of Madeira’s journey into Bitcoin.

As for Bitcoin adoption in Serbia, unfortunately the prince can’t wave a royal wand and create a Serbian-style El Salvador in Europe. Nevertheless, there are certain advantages to Serbia’s adoption of Bitcoin, notes the prince:

“There are many Serbs around the world. It is a huge diaspora. I think the biggest concentration or the biggest diaspora is in Canada, then Chicago.”

The use of remittances for the approximately 5 million Serbs living outside Serbia who regularly send money to their homeland is compelling. Given that Bitcoin transcends borders, offering people a way to instantly send value around the world without an intermediary, it could strengthen Serbia’s economy. For El Salvador, in the first year of adopting Bitcoin, transfers to the country exceeded 50 million dollars.

Related: Mercado Bitcoin plans to expand to Mexico

Furthermore, Serbia neighbors the Free Republic of Liberland. A micronation perched on a thin stretch of land on the Danube River, Liberland adopted Bitcoin as its currency over seven years ago. There is evidence of grassroots advocacy for Bitcoin in the Balkans.

Plus, one of the world’s most decorated tennis players, Novak Djokovic is a Serb. He is also a freedom lover and has strong anti-government views. In the prince’s eyes, he is an “obvious orange pill that has to happen, 100%.”