The President of the Central African Republic, Faustin-Archange Touadéra, launched a meme in order to raise the profile of the country, which is one of the poorest in the world.
The memes are used to strengthen popularity for a viral internet trend or movement and fans are inspired to collect and give them value, but they are extremely volatile investments.
Touadéra announced the launch, known as $ because, on its X account this weekend and Monday said it was a “success”. But the value of the part had a significant drop in prices of up to 90%, according to specialized websites.
In 2022, the car became the second country in the world after El Salvador to adopt the Bitcoin cryptocurrency as a call for tenders.
This initiative – launched under the name of Sango – does not seem to have been as successful as expected, and its website no longer works.
It was considered an easier way to attract investors to the country mining and other industries using Bitcoin. The country has rich mineral deposits, including gold and diamonds.
Foreign investors could also obtain citizenship for $ 60,000 in crypto, although the plan was then judged unconstitutional by the country’s Superior Court.
Touadéra has described the launch of this week The same week as an “experience” of something that “can unite people, support national development and put the (country) on the world scene in a unique way”.
But some expressed fears so that it could have been a scam.
Touadéra thanked those who believed in his vision on Monday.
He shared a video of a high school which, according to him, has deteriorated quickly, saying that the same-cooking would help support its “reconstruction and furniture” and give students a chance for a better future “.
Despite its potential, the car remains one of the poorest countries – a situation complicated by a civil war which has devastated a large part of the country.
The memes have often been criticized for their speculative nature, where users create or buy them in the hope that their value will increase and earn money quickly – but many end up losing money on them.
Just before its inauguration last month, US President Donald Trump launched his own same-cobble whose value has quickly flipped and which would have collected billions of dollars for him. The New York Times reported that it was now worth a quarter of its highest value.
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