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Why The Last Week of April was so Bullish for Bitcoin

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By Douglas Owen Ford @DouglasOwenFord

In chaotic times such as these it can be hard to keep up with everything that’s going on, in case you missed it. Here are some of the events that happened during the final week of April 2022 of interest to Bitcoin.

Panama – A bill was passed by the Panama Government that will allow the use of crypto currency for official payments. One of the key notes of interest within the law is that no capital gains will be calculated on the use of crypto currencies as a form of payment, this is expected to encourage usage and make the assets more liquid.

Read: Panama to Make Bitcoin Legal Method of Payment, 0% Capital Gains Tax

Central African Republic – Lawmakers in the African nation voted to accept Bitcoin as legal tender in addition to the current official currency of local use, the CFA, a French backed Franc. Given that the average citizen in the CAR has little access to the internet, the motives for adoption are being called into question by outside analysts who are watching the situation from abroad. Some have discussed the implications on an international level and are being highly speculated to be in favor of western destabilization for the country’s close ties to Russia.

Read: Central African Republic Adopts Bitcoin as Legal Tender Becoming Second Nation State to do so
Meet Russia’s trade partner, Central African Republic

Mexican Senate – A Bitcoin ATM has been installed in the Mexican Senate building lobby. Two senators led the effort in order to promote the awareness and use of cryptocurrencies within the population and leadership of Mexico. They hope that providing a secure location to obtain Bitcoin and other crypto assets will further a discussion at the national level about the future use of block chain technology and open money systems for the country.

Twitter – Elon Musk is proceeding with his purchase of Twitter. The world’s richest individual and serial entrepreneur has made a bold move to buy the social media platform, make it a private company and emphasize free speech. Rumors are circulating that Jack Dorsey, Twitter co-founder and cryptocurrency supporter is involved in the background. Reports are already circulating that some controversial users have had their accounts reinstated, or sudden swells of followers added. Predictably, Twitter has exploded with an immense amount of discussion on whether this will save or ruin the world. Additionally, many people are expected to remember that Twitter even exists.

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