Prince Philip of Serbia Calms Rumors of Bitcoin Adoption in Arab Country

Prince Filip Karađorđević, known in English as Philip Karageorgevich, calmed rumors that an Arab country would “soon” use Bitcoin (BTC) as legal tender. In an interview given by Philip from Serbia, the prince explained that Bitcoin adoption is inevitable for all countries.

Following the dissertation that he first shared on a bitcoin reserves podcast, some news outlets jumped on the comments. Headlines that an Arab country would soon adopt Bitcoin were quickly circulated. However, as a supporter of Bitcoin, Philip explained that Bitcoin adoption is in fact inevitable for all countries and not just Arab states:

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

The prince shared that Bitcoin is excellent for Muslim countries because “it makes perfect Sharia money.” Islamic law, known as Sharia, is based on the teachings of the Quran and determines whether something is allowed (halal) or illegal (haram). In the case of money, Philp would argue that Bitcoin is in fact halal and a perfect form of Islamic finance:

“It is only a matter of time before any Islamic country that follows Sharia should adopt it. Some people grab that and make it as a sale item and say that, of course, if a prince knows that some Arab or Muslim country is going to adopt Bitcoin soon, then it will happen.

Prince Philip is technically the Prince of Serbia and Yugoslavia because when the monarchy was abolished, Serbia as a country had not been created. “Goal of course Yugoslavia doesn’t exist today. And since we’re of Serbian descent, it’s from Serbia,’ Philip clarified. Today, Serbia is a parliamentary republic, although some Serbs favor the establishment of a parliamentary monarchy, similar to the United Kingdom.

Philip stormed into the Bitcoin scene in March this year when he appeared on a chat show. He explained the difference between Bitcoin and crypto, adding, “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 part in the Madeira president’s journey to Bitcoin.

Unfortunately, as far as Bitcoin’s adoption in Serbia is concerned, the prince cannot wave a royal wand and create a Serbian-style El Salvador in Europe. Nevertheless, there are certain advantages to Serbia’s use of Bitcoin, the prince notes:

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

The use of remittances for the approximately 500,000 Serbs who live outside Serbia and regularly send money back to their home country is compelling. Since Bitcoin crosses borders and offers people a way to directly send value around the world without an intermediary, it could strengthen Serbia’s economy. For El Salvador, remittances to the country in the first year of Bitcoin’s adoption exceeded $50 million.

Related: Mercado Bitcoin plans to expand to Mexico

In addition, Serbia borders the Free Republic of Liberland. Liberland, a micronation nestled on a thin stretch of land on the Danube River, adopted Bitcoin as its currency more than seven years ago. There is evidence of Bitcoin advocacy at the grassroots in the Balkans.

In addition, Novak Djokovic, one of the world’s most decorated tennis players, is a Serb. He is also a freedom enthusiast and has an outspoken anti-state stance. In the Prince’s eyes, he’s an “obvious orange pill that needs to happen, 100%.”

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