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President of Central African Republic on BTC Volatility: “Mathematics don’t account for human emotions’

In an apparent message to critics of the Central African Republic’s bitcoin decision, the country’s president, Faustin-Archange Touadera, recently argued that understanding the crypto’s disruptive power is crucial and that “mathematics don’t account for human emotions.” According to Touadera, the country’s future generations are likely to applaud his government for “choosing the right path during hard times.”

Bitcoin Adoption Beneficial for Future Generations

In remarks that seem to be directed towards critics of the Central African Republic’s decision to adopt Bitcoin as its currency, President Faustin Archange Touadera recently reiterated his country’s belief in the best cryptocurrency. His followers were told by him that CAR’s adoption bitcoin will benefit future generations.

Central African Republic President on BTC Volatility: 'Mathematics Don't Account for Human Emotions'

These remarks were made by Touadera as the crypto market continued its downward momentum. This was initially triggered by the Terra Luna crash, but later exacerbated in part by speculation about the U.S. Federal Reserve’s interest rate policy.

During this time, bitcoin and other top cryptocurrency have lost more that a third of what they were worth. Critics have used the recent crypto market crash to prove their point. They have criticized El Salvador and the CAR for their apparently ill-advised decision not to make bitcoin legal tender.

However, in a tweet that appears to rebuke the country’s critics, Touadera explained why he is unfazed by BTC‘s recent fall. He stated:

Understanding bitcoin is crucial to acknowledge its disruptive power to bring long-term prosperity. Mathematical calculations don’t take into account human emotions. These are the moments when future generations will remember our strength and unity in choosing the right path through difficult times.

Pressure to the CAR, El Salvador

While critics have pointed out the country’s poor telecommunications infrastructure, the CAR president’s position suggests that his government is unlikely be influenced. Touadera’s position is similar to Nayib Bukele, El Salvador’s president, who is being similarly criticized for making Bitcoin legal tender.

As reported by Bitcoin.com News, Bukele recently told worried Salvadorans that their BTC investment is safe and that they should “stop looking at the graph and enjoy life.”

Meanwhile, in response to the CAR president’s tweet, a user named Richard Penner told Touadera that BTC‘s value, just like the value of a fiat currency, is determined entirely by human emotions which are “fickle.”

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, author, and writer has been awarded the Zimbabwe Journalism Award. He has written extensively on the economic problems of certain African countries and how digital currencies can offer an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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