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Bitcoin price has risen 10% over the past week, moving higher alongside stocks that may be close to “full capitulation”, while ethereum price has shot 30% ahead of the long-awaited radical upgrade, now set for September.
Now, after JPMorgan revealed a $160 billion bitcoin price bomb, the Crown Prince of Serbia has said it’s only a matter of time before “every country” eventually adopts bitcoin – predicting that it will “definitely happen”.
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“It will definitely happen,” said Prince Philip Karageorgevitch Cointelegraph in an interview. “But I don’t know which country or who is going to do it where or anything like that, but it’s bound to happen. Every country will eventually adopt bitcoin.”
Prince Philip, an analyst for an international asset manager in London, revealed his support for bitcoin in March this year, calling it “freedom” and saying it is something he wants “for everyone”, before attending the Bitcoin 2022 conference in Miami.
“[Bitcoin is] censorship-free,” he said during a TV interview. “It’s very fungible, you can move it around. That’s what will help people’s individual sovereignty again, and this helps people’s freedom.”
Earlier this year, the Central African Republic (CAR) followed El Salvador in adopting bitcoin as legal tender in the country. El Salvador last year became the world’s first country to adopt bitcoin, with the country’s president Nayib Bukele spearheading an ambitious and controversial bitcoin-based economic plan.
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In January, Wall Street giant Fidelity predicted other countries and even a central bank could follow El Salvador into bitcoin this year — saying those who buy bitcoin while the price is low “will be better off competitively than their peers.”
“There are very high stakes theories at play here, where if bitcoin adoption increases, the countries securing some bitcoin today will be competitively better off than their peers,” Fidelity analysts Chris Kuiper and Jack Neureuter wrote in a note, adding that they “would not be surprised to see other sovereign nation-states buy bitcoin in 2022 and perhaps even see a central bank make an acquisition.”
In March, Samson Mow, former chief strategy officer at bitcoin infrastructure company Blockstream, who left the company last month to focus on “nation-state bitcoin adoption,” named Mexico as “on the list” of countries that could follow El Salvador into bitcoin. “I’m working with people from a number of countries and it’s still too early to say for sure, but bitcoin adoption in one form or another will be inevitable,” Mow said at the time.