According to Coin Market Cap, Bitcoin has experienced successive price surges and has come close to the $50,000 level during its trading. This has garnered widespread attention, as it has become a focus for many major investors, companies, and international institutions. This interest follows Tesla's investment of approximately $1.5 billion in the cryptocurrency last month.
Tesla, a company specializing in electric vehicle production, stated: "We have invested $1.5 billion in Bitcoin, and according to this policy, we will increase our holdings of digital assets over time in the long term." The company further noted: "We expect to accept payments in Bitcoin for our products in the near future, applying the relevant laws, and it will initially be on a limited basis."
Many questions are arising about the risks of cryptocurrency, its potential economic impacts, and its implications for national currencies, in light of the transformation of cryptocurrencies into one of the modern investment tools. Economic researcher Ibrahim Al-Taher presented a paper during the third international conference of the European Academy of Finance and Islamic Economics (EIFIE), urging countries and financial institutions to actively engage with the phenomenon of cryptocurrencies. This is essential for maintaining economic stability and preventing citizens from falling into the risks associated with illegal cryptocurrencies. Al-Taher emphasized the need for central banks to define their priorities and targets before making decisions on issuing a legal digital currency. He stressed the importance of central banks providing a national electronic payment system to aid in rapid economic recovery from crises and to allow individuals to safely and efficiently retain financial assets.
