Cryptocurrency: Smaller Nations Adopting

[grarpamp]

And will put the big begging on their knees in front of them...


Fiji's New Pro-Bitcoin Prime Minister Ponders Legal Tender Bill: Report

Newly elected Fiji Prime Minister Sitiveni Rabuka is pro-Bitcoin and
is reportedly considering pushing a bill to adopt BTC as legal tender
in the country...

Pro-Bitcoin politician Sitiveni Rabuka recently took office as the new
Prime Minister of the Pacific Islands of Fiji. Now, it seems the new
PM is actively considering the adoption of bitcoin as legal tender
there.

While Rabuka himself hasn’t been very public about his opinions on
Bitcoin thus far, Lord Fusitu'a, a noble and former member of
parliament of neighboring nation Tonga, has reportedly confirmed that
the Fijian politician is a bitcoin bull.

    "The new PM is definitely pro-Bitcoin," Lord Fusitu'a assured Cointelegraph.

Lord Fusitu'a also shared the news on Twitter.

    "A new pro-#Bitcoin friendly Prime Minister in the South Pacific.
Fiji’s newly elected Prime Minister @slrabuka," Lord Fusitu'a wrote,
tagging Rabuka.

In the second part of his tweet, Lord Fusitu'a hinted at the legal
tender legislation.

    "Let’s go 2 for 2 - BTC Legal Tender Bills for the Pacific in
2023," the tweet reads, hinting at Tonga’s own Bitcoin legal tender
legislation that could reportedly go live as early as Q2 2023.

The Bitcoin dream first started brewing in Tonga right after El
Salvador’s Bitcoin Law came into effect.

Now, Fiji could be next in bringing BTC under its definition of legal
tender. Lord Fusitu'a told Cointelegraph that Fiji’s new Prime
Minister "asked to meet with me which we did via zooms since last year
to walk him through step by step, how he could adopt bitcoin legal
tender."

Both countries could benefit tremendously from bitcoin adoption in two
specific areas; remittances and mining.

Remittances sent to Fiji accounted for 11.3% of the country’s gross
domestic product (GDP) in 2021, per World Bank data. Tonga’s situation
is even more dramatic –– remittances were a whopping 45.5% of the
nation’s GDP in 2021.

When it comes to mining, both countries can take advantage of their
geology. Being volcanic islands, there is a lot of opportunity to
experiment with and profit from bitcoin mining. Moreover, Fiji also
boasts significant hydro capacity.