Now is the best time for Nigeria to own a Bitcoin reserve.

[Son Of Blockchain (SOB)]

 The government of Nigeria have taken a bold step to make Cryptocurrency legal and Crypto enthusiasts free to trade and invest on cryptocurrency but that's not enough, across the globe many top countries are owning a Bitcoin reserve, as a hedge against inflation in the future and to back up their fiat currency but then many African countries are yet to do that including Nigeria that's one of the big economy in Africa, I think big economys in Africa should be pioneers to owning the reserve so others would adopt to it else it would affect them in future.
 Why? Cause since the first world countries are aggressively accumulating it currently and holding for the future, Bitcoin would get higher cause it has the potential and by then third world countries who didn't buy now would buy it costlier in future, we never can tell what figures the ATH would be like in 3 to 4 years time and if Nigeria haven't own it by then, they'll be buying it costlier than it is now, therefore now is the best time to buy since it's more cheaper, anyways I don't know if they're secretly buying like most countries are doing, correct me if am wrong.

[Charles-Tim]

across the globe many top countries are owning a Bitcoin reserve,

Aside United States and El Salvador, which country also have bitcoin reserve? Those are the two countries that I know of that have bitcoin reserve. Although, some countries are planning to have bitcoin reserve but not yet having it.

This is even not the right time for government to have bitcoin in their reserve, they supposed to have it since many years ago. The profit would have been more.

They are not buying it secretly.

[Ambatman]

The government of Nigeria have taken a bold step to make Cryptocurrency legal and Crypto enthusiasts free to trade and invest on cryptocurrency

So Nigeria police are not going to call me yahoo boy for owning Binance? 

Cause since the first world countries are aggressively accumulating it currently and holding for the future,

Nobody is aggressively owning it, not even USA
They are applying a cautious and slow approach.

I don't know if they're secretly buying like most countries are doing, correct me if am wrong.

They are not buying secretly and there's no benefit in indulging in such
Many country that own a Bitcoin is from holdings gotten from illicit acts.


The Bitcoin reserve idea is still on its early phase
I wouldn't encourage Nigeria to jump head in first with our current economic status.
Watch and observe how those that are planning on implementing it are doing
And learn from them.
We are not in a position to be fore runner of the experiment.

[Sticky Bomb]

By now you should know the kind of country you're from.

One thing is to make a decree, another thing is to implement it fully.

This government is more focused on increasing and implementing taxes at every corner than bringing any actual development to the country. So I see this as another effort to distract people to thinking they are crypto friendly and victimize those that loosen up.

I can only believe they're serious when CBN directs banks to allow crypto transactions within it, although I'll never use my conventional bank account to purchase crypto directly(except though P2P), but at least it'll proved they're seriousness to some good extent

This Nigerian government has no plan to buy Bitcoin yet, so don't even sweat it, instead of thinking investments, they're thinking loans and increased taxation.

[Son Of Blockchain (SOB)]

They are not buying secretly and there's no benefit in indulging in such
Many country that own a Bitcoin is from holdings gotten from illicit acts.

The Bitcoin reserve idea is still on its early phase
I wouldn't encourage Nigeria to jump head in first with our current economic status.
Watch and observe how those that are planning on implementing it are doing
And learn from them.
We are not in a position to be fore runner of the experiment.

What are you even saying, I know that the Bitcoin reserve idea is still at it's early stage, but this is the best time for countries with lesser economies to buy Bitcoin now that it's still way cheaper, El Salvador has already made that move and it would be an advantage to them when other countries with greater economy jump in fully with bigger amount of money.
 By then it would make the coin go higher and countries with lesser economy would regret not buying now cause the competition would become so tough in the near future, El Salvador's president was wise enough to know that, no wonder the enter the market earlier regardless of how bad his economy was when they started buying Bitcoin.
 Most of you here are not very good researchers, who told you that some countries are not secretly buying bitcoin and accumulating aggressively.
https://www.benzinga.com/markets/cryptocurrency/25/01/43336076/el-salvador-changes-bitcoin-law-but-legal-tender-status-remains#:~:text=El%20Salvador%20became%20the%20first,trailblazer%20in%20digital%20currency%20adoption.
https://www.benzinga.com/markets/cryptocurrency/24/12/42387366/bitcoin-sellers-delight-bhutan-transfers-40m-in-btc-to-qcp-capital
https://www.benzinga.com/24/12/42677932/russian-firms-adopt-bitcoin-for-global-trade-in-response-to-western-sanctions-should-be-expanded-and-developed-further
https://www.benzinga.com/markets/cryptocurrency/25/01/43270841/how-donald-trump-could-make-the-strategic-bitcoin-reserve-a-reality

[Zaguru12]

The Bitcoin reserve idea is still on its early phase
I wouldn't encourage Nigeria to jump head in first with our current economic status.
Watch and observe how those that are planning on implementing it are doing
And learn from them.
We are not in a position to be fore runner of the experiment.

Definitely agree with you, bitcoin investment is for a country which has a stable economy or near stable economy, Nigeria economy is currently in chaos with the huge amount of debts on it, this actually ties the country into having a very strong reserve and not on something which is volatile. Bitcoin reserve will need to be held for long without been touched, but I don’t think Nigeria has that ability now.

But aside that the country definitely needs to strengthen its reserve and not only have its majority in dollars which is looking to be under pressure from this tariff war going. Another thing to strengthen them before going for bitcoin reserve is to strengthen the almost dead local currency (Naira), without a strong naira they can’t afford to put off debt easily and go for bitcoin reserve

[Ambatman]

Most of you here are not very good researchers, who told you that some countries are not secretly buying bitcoin and accumulating aggressively.

None of your link gave any insight that countries are secretly buying to accumulate aggressively.
If it's not too much can you quote the part that stated such. I currently still stand by my word until proven otherwise.

What are you even saying, I know that the Bitcoin reserve idea is still at it's early stage, but this is the best time for countries with lesser economies to buy Bitcoin

What's your definition of best time?
Do you think Nigeria would shift some funds towards accumulating Bitcoin now?
They are buying Bitcoin not explicitly tl make profit but as an hedge towards inflation.

[Son Of Blockchain (SOB)]

None of your link gave any insight that countries are secretly buying to accumulate aggressively.
If it's not too much can you quote the part that stated such. I currently still stand by my word until proven otherwise.

You're correct concerning the other links I might not have cross-checked the accurate links giving a clear insight of country's accumulating bitcoin but check this out.
https://www.benzinga.com/markets/cryptocurrency/25/01/43391374/anthony-pompliano-countries-secretly-accumulating-bitcoin-2025-could-be-fun
https://www.benzinga.com/markets/cryptocurrency/24/10/41616564/bitcoin-correction-incoming-bhutan-moves-btc-worth-60m-to-binance
https://www.ccn.com/news/crypto/bhutan-top-crypto-nations-full-list-of-countries/

What's your definition of best time?
Do you think Nigeria would shift some funds towards accumulating Bitcoin now?
They are buying Bitcoin not explicitly tl make profit but as an hedge towards inflation.

Bitcoin is currently cheaper like I said earlier and could go higher in the future so why can't they buy now instead of waiting for the future when it goes higher, or when the world Bank they borrow money from advices them to do so in future?
 By right they're capable of doing it regardless of whether they foolishly borrow money for their selfish interests or  how bad they've made the economy become, they waste public funds on unnecessary stuffs like renovation of the VP quarters and buying Jets for the president and more which runs into billions of Naira so why do you think they can't? Just that this government have misplaced priorities when it comes to building an economy and they're bent on borrowing and taxation still for their personal interest.

[sotelorene]

Just like Charles Tim have said, the only country that have adopted Bitcoin are united state and El Salvador and I can't actually tell the reason why they are doing that but all I can think of why they are doing this is because, maybe they believe or know Bitcoin is going to be more great in the future that is in years coming. And whenever you are saying important thing like this you should not mention Nigeria because our so called leaders are so selfish and they don't want the progress of the country ( the people they are leading) and they are not doing this because they  don't have the capacity to... But I just think they are not interested and besides Bitcoin is not the only investment that can help the country in the future there are lot of things the country can invest on that will benefit or be of help in the future.

[Agbe]

You're right there is no better time than now for our country to take the bold step in making sure that Nigeria begins the process of accumulation of Bitcoin in storing of her national income it's not enough making crypto currency legal in the country over there in the world countries with vision and plan about their tomorrow is concerned with accumulating Bitcoin reserves for the sake of tomorrow so Nigeria should follow suits because one thing about Bitcoin is that it doesn't depend on the economy of any world market

[SatoPrincess]

Like Charles-Tim pointed out, the United States and El Salvador are the only countries that have a bitcoin reserve. This two countries operate very differently from Nigeria. They work on systems, while Nigeria is run on chaos. You can’t implement such things without having a system in place that ensures that corrupt officials do not have access to public office and if they manage to get into public office, they will be accountable to the government and to the people.

[Sonia_123]

The government of Nigeria have taken a bold step to make Cryptocurrency legal and Crypto enthusiasts free to trade and invest on cryptocurrency but that's not enough, across the globe many top countries are owning a Bitcoin reserve, as a hedge against inflation in the future and to back up their fiat currency but then many African countries are yet to do that including Nigeria that's one of the big economy in Africa, I think big economys in Africa should be pioneers to owning the reserve so others would adopt to it else it would affect them in future.
 Why? Cause since the first world countries are aggressively accumulating it currently and holding for the future, Bitcoin would get higher cause it has the potential and by then third world countries who didn't buy now would buy it costlier in future, we never can tell what figures the ATH would be like in 3 to 4 years time and if Nigeria haven't own it by then, they'll be buying it costlier than it is now, therefore now is the best time to buy since it's more cheaper, anyways I don't know if they're secretly buying like most countries are doing, correct me if am wrong.

If only our leaders will accept to have it as a reserve in the country,but they are having Bitcoin as a reserve individually, they know the importance and worth of Bitcoin in an economy, but because they can't have control over it as they want they way they are in total control of their country's local currency, having Bitcoin as a reserve will help and save the country from a lot of financial stress .
Most countries are thinking about having Bitcoin as their reserve, infact some have already started adopting it as their reserve, but it's unfortunate that our Nigeria government is not reasoning towards that direction, if not this would have been the best time to buy and accumulate it for a long-term.

[Franctoshi]

Government is not a secret organization that they will be buying Bitcoin and you wouldn't hear it from the media, it will be passed into appropriation bill before Nigeria would consider a Bitcoin strategic reserve.

Then considering your thoughts about Nigeria to consider Buying Bitcoin and adding it to its reserves,  all depends on the type you have, if he is a Bitcoin enthusiasts or have some Bitcoin enthusiasts as his advisers, But you and I know the type of president we have here,  he might not even know whether something like Bitcoin exists, based on his kind of personality, age and interest,  so you need a Bitcoin loving President like Donald Trump and El Salvador president,  Nayib Bukele to get this stuff done here.

[Yucky]

In a country where snakes swallow money, monkeys take money, and rats eat money, I don't think it's we have grown to have a Bitcoin reserve yet. Tomorrow, we might wake up to news that a cockroach ate the phone and the password is missing and such silly excuses.

I know it's okay for a country to have a Bitcoin reserve, but considering the state of our country, I'm not sure. We don't want a situation where people think we have a plan B for the economy, only to wake up to news that someone took the account, it froze, or the Bitcoin disappeared.

I think it's best for individuals to manage their own Bitcoin investments. I doubt the government will even want to do it, given their inconsistent stance on Bitcoin, approving and disapproving it repeatedly. We're still a bit far from having a Bitcoin reserve as a country, and I don't think Nigeria is ready for that. Just looking at the facts

[Joy- maker]

There is no right time for a country to own a bitcoin reserve, bitcoin reserve can be own anytime by a country, for now whether Nigeria own a bitcoin reserve or not that one no suppose be our problem for now, our problem now hardship, high cost of living because hungry won finish people for we country, no employment, no good infrastructures and many now all this things suppose be our problem no be for Nigeria to how a bitcoin reserve, because even if Nigeria own a bitcoin how ehh won take help us wey be the citizens of Nigeria.

[Cryptomultiplier]

It is quite clear that before U.S came to own a Bitcoin and cryptocurrencies reserve, they instituted some things in place like working to reduce the tax imposed on crypto, regulations and introduction of cryptocurrency systems that would facilitate its growth, acceptance and maintenance.
If Naija government were to create a reserve for crypto currency, they would first become sluggish about chasing and bearing down on crypto currency investors as well as the systems that allow it to function effectively, they would regulate to the customers advantage and would create an enabling environment to sensitize those who know next to nothing or much about the subject of cryptocurrencies in general.

[CryptopreneurBrainboss]

Why? Cause since the first world countries are aggressively accumulating it currently and holding for the future, Bitcoin would get higher cause it has the potential and by then third world countries who didn't buy now would buy it costlier in future, we never can tell what figures the ATH would be like in 3 to 4 years time and if Nigeria haven't own it by then, they'll be buying it costlier than it is now, therefore now is the best time to buy since it's more cheaper, anyways I don't know if they're secretly buying like most countries are doing, correct me if am wrong.

Some valid points there but a country that has so many corrupt politicians can't do things right. Bitcoin isn't the problem of Nigeria right now as we have many outstanding issues we need to resolve to strengthen the economy of the country and ones that's sorted out, we can then start thinking about how to make the country's revenue better by investing in Bitcoin. Nigeria has many resources that we can invest into and make more than any profits Bitcoin would had given to the country. We haven't tapped into our potential yet so I won't be supporting any Bitcoin reserve yet, the same reserve wey this men go share wetin themselves when they wan commot office? Abeg make we forget this reserve matter and think about how to make the country economy better first.

[Pokapoka124]

For this same country wey snake dey swallow pubic funds? If Nigeria attempt to get bitcoin reserve, our leaders go just use us shine be that. You go just see for news say 1.3 trillion naira worth of bitcoin lost for the federal reserve, them go either say na hacker do am or something. This your idea go only work when we don fix our corruption issues.