Why are African businessmen not bullish in advocating for Bitcoin?

[Ruttoshi]

It's no new thing that Bitcoin is the future of money and though it's not been widely adopted yet but we're heading towards that direction, take for instance the current president of the United States was once a bitcoin hater but he's now a strong advocate, top business men who didn't see any future with it in the past are now very bullish about it and buying bulk without selling, if they could believe so much in the coin and are even advising their citizens to keep buying than selling then it means their's something so special about Bitcoin than we can imagine.
 However, what suprises me is that African businessmen and government are not really advocating for Bitcoin like other continents are and it makes me wonder why, is it that they don't believe in Bitcoin or they don't pictures a positive future with it? Why isn't Dangote and his kinds in Africa coming out to speak concerning it and advice the nation towards owning a reserve, like others are doing?

We all know that it was last week that our government just fully embrace crypto and initially, crypto activities was done in secret. This makes a lot of people to stay on the low on whatever concerns crypto. When a government hasn't shown full support on cryptocurrency, no business man or leader will come out openly in public to talk about crypto because it means that he's against the government partially.

Nigeria businessmen have bitcoin but they would not expose it or do you think they're not in the world and wouldn't like to hide part of their wealth in bitcoin. Those politicians too also have bitcoin because they know that's the best asset to hide your wealth in that's untraceable and unnoticed. I believe that as Nigeria government has come out to embrace and accept cryptocurrency, we will be seeing such encouragement from people on media to invest in bitcoin.

[Makus]

It's no new thing that Bitcoin is the future of money and though it's not been widely adopted yet but we're heading towards that direction, take for instance the current president of the United States was once a bitcoin hater but he's now a strong advocate, top business men who didn't see any future with it in the past are now very bullish about it and buying bulk without selling, if they could believe so much in the coin and are even advising their citizens to keep buying than selling then it means their's something so special about Bitcoin than we can imagine.
 However, what suprises me is that African businessmen and government are not really advocating for Bitcoin like other continents are and it makes me wonder why, is it that they don't believe in Bitcoin or they don't pictures a positive future with it? Why isn't Dangote and his kinds in Africa coming out to speak concerning it and advice the nation towards owning a reserve, like others are doing?

Op that's  a nice question, it's true our government in Africa  are not enthusiastic  about bitcoin or crypto at large probably because  they have not opened their minds to see the future or realize that bitcoin is a assets  that would worth more in the future, but on the contrary, if the governments  continue to sell their national currency to purchase  bitcoin, that could lead to a massive inflation. Just like what we experienced, though our case was obvious that crypto was not the major  cause  of that inflation we experienced, our government  only used that as a cover to hide their underground did. Dangote is a business man and on multiple  occasions  i'v  heard that he give out some fund to forex traders to increase profits,  so I'm  confident  that he should have done thesame for the crypto market.

[Gozie51]

The reason is simple. African countries and Nigeria has not been positive with bitcoin, so they won't advocate for bitcoin publicly. We already seen the challenges and accusation that binance faced because of the naira value reduction, so these big guys would avoid whatever propaganda that will affect their businesses and so they would rather invest as an individual not involving social media buzz on their company image too. For example in places like US, people will not have any scare to buy and hodl Bitcoin because the government has already made it public to hodl some of her treasury in bitcoin, so it is already settled over there that you can invest in Bitcoin but it is not yet like that in Nigeria.

[Mehmet69]

It's no new thing that Bitcoin is the future of money and though it's not been widely adopted yet but we're heading towards that direction, take for instance the current president of the United States was once a bitcoin hater but he's now a strong advocate, top business men who didn't see any future with it in the past are now very bullish about it and buying bulk without selling, if they could believe so much in the coin and are even advising their citizens to keep buying than selling then it means their's something so special about Bitcoin than we can imagine.
 However, what suprises me is that African businessmen and government are not really advocating for Bitcoin like other continents are and it makes me wonder why, is it that they don't believe in Bitcoin or they don't pictures a positive future with it? Why isn't Dangote and his kinds in Africa coming out to speak concerning it and advice the nation towards owning a reserve, like others are doing?

If you look at the history of Africa, you will see that even after becoming the most powerful continent in the world, it was still under the control of others. The ruling class has eaten Africa in such a way that they have no resources left. The ruling class has also imposed rights on the basic needs of Africans. Education is the backbone of a nation. But the ruling class has manipulated Africans in such a way that they do not give much importance to education.

In the same way, they have their own reasons why they are not investing in Bitcoin. However, I think that in the near future, Africa will also develop into a strong investor country in Bitcoin like America.

[Donneski]

Personally, I think the reason is because most of them are yet to to fully understand the concepts of Bitcoin and how one can actually earn good profits in investing in it. To others with little knowledge of Bitcoin, they believe the unpredictability of the market makes it a very risky venture to invest in hence most of the known businessmen in Africa have refused to invest or advocate in Bitcoin. The Westerners are more exposed to digitalized financial systems while Africans are just trying to catch up but hopefully, we'll get there someday.

[Pokapoka124]

Those men go dey buy bitcoin on the low them nor go just loud am. Big man dey always first poor man get update na why the rich dey always increase their wealth. Them nor go include bitcoin payments for their businesses because of the way we government dey operate, EFCC fit come charge them with money laundering case if them nor dey careful.

[Marykeller]

OP, know this, Bitcoin is never a compulsory investment channel that everyone would make.  Most people would prefer investing in what they have knowledge of, and they can trust. Not seeing our top businessmen and women not advocating for Bitcoin doesn't make them less for financial steps to riches. Remember sae, no be Bitcoin investment made them who they are today. They must have other business ideas that they sees as more important than risking or gambling their money on what they can't control its prices. So let everyone do wetin the like. Wetin most of us the look for "financial freedom" through Bitcoin investment, most people for Naija don find am long ago through other means of investment or business idea

[CryptopreneurBrainboss]

Those men go dey buy bitcoin on the low them nor go just loud am. Big man dey always first poor man get update na why the rich dey always increase their wealth. Them nor go include bitcoin payments for their businesses because of the way we government dey operate, EFCC fit come charge them with money laundering case if them nor dey careful.

Na wetin them dey do na, e get anybody wey no like to make more money? No dey believe anything wey this government dem dey talk. They're only after their pockets so na wetin we supposed to dey do too. Make we dey find our own pocket by doing anything wey go favour us. In the right time, the government them go come along. Now self e never too clear say them dey with us but as time goes, we go see say they'll come out more openly. Business aren't associating with Bitcoin because they know how awful and wicked the government can be. As them no like you, them fit use all sorts of allegations use attack your business so to dey on the safer side, na to play safe.