Wakanda Declares $BTC as its National Reserve Currency

Officially known as the Kingdom of Wakanda, a small nation in North East Africa.

The technological superpower, Wakanda stuns the world economy by being the first country to declare Bitcoin $BTC as its national reserve currency. This controversial move has caught many of the world’s leading financial institutions off guard as they scramble to assess the effects this will have on global markets.

King T’Challa made the statement as he addressed UN leaders at the Geneva Peace Summit this morning. He believes that;

“Bitcoin can empower not only the people of Wakanda, but people across the world by creating fair and equal markets for everyone using a currency that is not controlled by any central authority”.

King T’Challa and the UN leaders at the Geneva Peace Summit this morning.

T’Challa declared that effective immediately, all of its precious metal exports including Vibranium will now be solely traded by Bitcoin moving away from the US Dollar. This morning, markets are spiraling as the news broke causing a sudden uprise as the markets opened seeing the US Dollar price of Vibranium surge 20% setting a new record high of $12,034/gram.

Stark Industries, one of the largest consumers of Vibranium welcomed the change, and when asked for a comment, spokesperson Miss Potts said;

“Mr. Stark has always had a great relationship with T’Challa and fully supports the move to Bitcoin and it will only have a positive impact on Stark Industries ability to acquire Vibranium on the global market”.

Leading cryptocurrency exchange OKEx confirms that large volumes of $BTC have been purchased and transferred from the OKEx wallets to the Wakandan Royal Treasury’s BTC addresses since mid-2018 and consistently during the previous 9 months. COO of OKEx, Andy Cheung has applauded the bold move with the following statement;

“Bitcoin, being a decentralised currency and not controlled by any central entity allows people financial freedom, it is banking for the bankless and that is a powerful thing. Wakanda taking the lead on this shift is fantastic news and we expect many other nations to follow suit.”

In the meantime, residents in the Wakanda capital Birnin Zana see the move as a natural progression. Many have been using cryptocurrencies like Bitcoin for years as part of their daily lives.

Ulysses Klaue, a local merchant said;

“I have used Bitcoin for several years to sell my goods, especially internationally.

My customers prefer paying with BTC due to its convenience, no waiting for banks to send international payments, no high fees — just quick and easy payments. This is just business as usual for us, it’s the rest of the world that needs to catch up. With Lightning payments, things are even faster, cheaper and easier than ever before, so why do people even bother to use useless pieces of paper?”

— translated from Wakandan

Source: Capital city of Wakanda.gov

JPMorgan CEO, Jamie Dimon, who previously has always been very vocally opposed to Bitcoin, and even going as far as to call it a fraud, tweeted out this morning in support for the Wakanda move.

In addition, the Wakanda Royal Treasury has announced the upcoming partnership with Bitfineon as its $BTC exchange partner, and it’s been rumored to include some sort of exclusivity, thus guaranteeing high volumes of $BTC trading via Bitfineon. You can sign up here.

How will it turn out for residents of the Wakanda Nation and how will the world economy react upon this surprising piece of news? Perhaps we will know in Avengers: Endgame, on April 24 presented by Marvel.

We sincerely thank you for reading and wish you a happy 1st of April.