The Emirates strengthen their economic bet on Bitcoin and cryptocurrencies

When you have the means to buy bitcoin and are convinced of its seriousness, you don’t hesitate to write a check and create favorable conditions for its growth. That’s exactly what the United Arab Emirates have done in recent months. The country, rich in oil, has officially recognized Bitcoin as a “new sector” of its economy. A declaration that is no coincidence: it prepares for the post-oil era. But the cannibalism between black gold and digital gold is just beginning.

In brief

Oil finds its successor in the desert’s digital vault

The Prime Minister’s statement is not an electoral punchline. Classifying bitcoin and crypto as a “new sector” of the national economy, for a country that built its wealth on oil, is called changing your compass.