Fiji’s New Prime Minister Considering Bitcoin as Legal Tender

• Sitiveni Rabuka, the new Prime Minister of Fiji, is reportedly considering the adoption of Bitcoin as legal tender.
• Lord Fusitu’a, a noble and former member of parliament of neighboring nation Tonga, has confirmed that Rabuka is a bitcoin bull.
• The adoption of bitcoin could help both Fiji and Tonga by providing remittances and mining opportunities.

The Pacific Islands of Fiji recently welcomed a new Prime Minister in the form of Sitiveni Rabuka, and now it seems the new leader is actively considering the adoption of Bitcoin as legal tender. This revelation comes courtesy of Lord Fusitu’a, a noble and former member of parliament of neighboring nation Tonga, who has reportedly confirmed that the Fijian politician is a bitcoin bull.

Lord Fusitu’a shared the news on Twitter, writing, “A new pro-#Bitcoin friendly Prime Minister in the South Pacific. Fiji’s newly elected Prime Minister @slrabuka. Let’s go 2 for 2 – BTC Legal Tender Bills for the Pacific in 2023.” This tweet hints at Tonga’s own Bitcoin legal tender legislation, which could reportedly go live as early as Q2 2023.

The Bitcoin dream first started brewing in Tonga right after El Salvador’s Bitcoin Law came into effect, and now it looks like Fiji could be the next country to bring BTC under its definition of legal tender. When asked about the situation, Lord Fusitu’a told Cointelegraph that Fiji’s new Prime Minister “asked to meet with me which we did via zooms since last year to walk him through step by step, how he could adopt bitcoin legal tender.”

The adoption of bitcoin could help both Fiji and Tonga in two specific areas; remittances and mining. Remittances sent to Fiji accounted for 11.3% of the country’s gross domestic product (GDP) in 2021, per World Bank data. Tonga’s situation is even more dramatic –– remittances were a whopping 45.5% of the nation’s GDP in 2021. As for mining, both countries can take advantage of their geology.

The news of a potential Bitcoin legal tender in Fiji is exciting for the cryptocurrency industry, as it could lead to the adoption of Bitcoin in the wider Pacific region. In addition, it could also be a boon for the tourism industry in Fiji, as more travelers would be able to pay for goods and services in Bitcoin. It remains to be seen if Rabuka will take the plunge and adopt Bitcoin as a legal tender, but if he does, it could be an extremely positive move for both Fiji and Tonga.