Morocco residents sharply increase their investment in BTC in 2021

by in Cryptocurrency News

Morocco

Morocco tops the ranking of North African countries in terms of bitcoin investment.

According to the Singapore platform Triple-A, approximately 2.4% of the population of this state, or 0.9 million people, have already bought digital currencies. In terms of the number of bitcoin investors, Morocco is even ahead of such European developed countries as Portugal.

If we consider the entire Middle East and North Africa, then Morocco is second only to Saudi Arabia in terms of the volume of transactions with BTC.

Observers note that Moroccans' investment in digital currency is growing despite the lack of cryptosphere legislation in that country.

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Over the past few years, the monetary administration of the kingdom has adhered to the position that no financial system other than the official one should be recognized.

In February last year, the Central Bank of Morocco announced its readiness to develop a national digital currency when the need arises.

As in other countries creating CBDCs, the Central Bank token will be pegged to fiat currency, the regulator emphasized.