Bahrain Makes Strides In Adopting Cryptocurrencies
by: BTM - Tue, 02 Feb 2021
Economic expert, Ammar Awachi, has highlighted that the kingdom, through the Central Bank of Bahrain, has made strides towards understanding, enabling, and localising the cryptocurrency industry - continuing the path of success achieved by the field of FinTech.
He stressed the importance of boosting awareness about the concept of digital currencies, including Bitcoin, among the Bahraini community considering the significant increase in Bitcoinâs value recently. âBitcoin is described now as âDigital Goldâ, referring to investorsâș reliance on it as a store of value in times of crisis, similar to what happens with gold. Digital currencies are not expected to replace their traditional counterparts during the next five years at least, but they will strengthen their position as a store of value,â explained Mr. Awachi.
âIt is imperative that people understand the definition of its working mechanism and how it is used and traded, in addition to digital wallets dedicated that exist in diverse forms of software or electronic services that can store cryptocurrency and conduct transactions,â he concluded.
Tags #btm february 2021 #business in bahrain #business news bahrain #business bites #bahrain business bites #btm february 2021 #bitcoin awareness bahrain #bahrain crypto market #digital wallets bahrain #crypto adoption bahrain #fintech bahrain #central bank of bahrain crypto #digital currencies bahrain #bitcoin bahrain #cryptocurrency bahrain
Digital Edition
Bahrain This Month
May 2026
Related Articles
Unified Guest Experience
Fri, 08 May 2026
Sole Focus
Fri, 08 May 2026
Less Thriller, More ABC
Fri, 08 May 2026