Malaysian Government Proposes Adopting Bitcoin As Legal Tender

The mass adoption of crypto has been one of the most important goals that the crypto industry set. Things have been going great and they seem to continue in the same direction. Check out the latest reports about Malaysia.

BREAKING 💥 Malaysian government proposes adopting #Bitcoin and crypto as legal tender 💥 pic.twitter.com/YRgxcJFFRq

— Bitcoin Magazine (@BitcoinMagazine) March 21, 2022

Bloomberg just noted that Malaysia’s Communication Ministry has proposed to the government that cryptocurrency such as BTC be adopted as legal transfer, its deputy minister Zahidi Zainul Abidin told Parliament on Monday.

“We hope the government can allow this,” Zahidi said.

“We are trying to see how we can legalize this so that we can develop youth participation in crypto and assist them.”

Crypto falls under the purview of the country’s central bank and Securities Commission, he added.

A popular crypto analyst is optimistic that Bitcoin (BTC) will rally in the next few weeks after months of down-trending price action.

The host of financial education YouTube channel InvestAnswers says in a new video that he expects the price of Bitcoin to possibly go up as high as $50,000 in April.

“April historically is a bumper whether or not it’s a bear or bull market…I think the key level is if we can get above $45,000, there’s nothing but fresh air between $45,000 and $50,000, so we could very easily rally even overnight $5,000 candle up to that thing.”

He continued and said this:

“But we’ve hit the 45k level three times now and it’s like a piece of glass that can’t be broken, but if we took a good run at it, it could even happen this weekend. “

Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $40,930.