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Senior South African Politician Suggests Country Invest in Bitcoin ($BTC)
In a surprising turn of events, a senior South African politician has taken to social media to suggest that the country should consider investing in Bitcoin (BTC). Mzwanele Manyi, a prominent figure in South African politics and a former corporate executive, made the suggestion on December 23, 2024.
According to a tweet by Mr. Manyi, he believes that Bitcoin is unstoppable and has the potential to devalue other precious assets like gold and silver. He went on to urge his countrymen to “climb on this bus” and take advantage of the situation by investing in the top cryptocurrency.
Manyi’s suggestion comes at a time when there are growing concerns about the country’s debt crisis, with many experts urging the government to consider alternative investment options. The politician believes that if South Africa were to adopt Bitcoin and invest in it, they would be able to offset their debt within two years and have enough funds to drive industrialization.
The suggestion has sparked a heated debate on social media, with some critics arguing that the country cannot succeed in adopting Bitcoin due to its lack of investment in the cryptocurrency. They claim that African countries are lagging behind in terms of Bitcoin adoption, as American-like countries hold a significant amount of Bitcoin at the sovereign government level.
However, this development may signal a shift in the country’s stance on cryptocurrencies, with some analysts suggesting that the proposed “Bitcoin Strategic Reserve Act” in the US is exerting pressure on other countries to consider investing in the digital asset.
At the time of writing, the current trade price of Bitcoin stands at $98,150, which represents a 4% increase over the last 24 hours.
Source: bitcoinik.com
