the same thing applicable to Niara definitely there will be demand reduction in NGN because as the price of bitcoin keep rising it may encourage more Nigerians to adopt cryptocurrency and it can also potentially stabilizing the Naira,so can you think out of box and look at it the other way round,what would be the impacts of it Globally in terms of Economic conditions?
the only way I fit think of as to the global implications of Bitcoin continuous rising be say, as people de get profit from thier Bitcoin holding, e go help them become more financially bouyant which by implication fit affect the economy for the better. Logically, Bitcoin increase in price no go directly influence the value of the naira positively, because e go even de increase the demand for the dollar when you go wan use buy some coin when go also cause the scarcity of the dollar and that way the dollar go de appreciate while the naira go de depreciate.
One thing be say, even if Bitcoin experience an ATH of $500k, if you never been de buy Bitcoin as at when the price been de low, the effect of the rise in Bitcoin price won't affect you positively. The current bad economy de stop a lot of us from buying Bitcoin and if you de earn from naira, e go de too deficult for you to even buy Bitcoin even when the market DIP. With 50 thousand naira, you can only buy a so small fraction of Bitcoin and that is an amount that's too high for the majority of people to fit use buy thier coin. The implication be say, the current bad economy go make am deficult for us to fit benefit from global occurrence like Bitcoin getting bullish because we've already been placed at a disadvantage due to the bad exchange rate and the high inflation we're facing.
