Why are African businessmen not bullish in advocating for Bitcoin?

[Samlucky O]

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

well there is no evidence to prove that Trump is buying bitcoin in bulk without selling it. instead of Trump making bitcoin a strategic reserve fund we saw how he created his own coin and  doing things that is making many folks to sell their bitcoin and this is making bitcoin market to dump.

if they could believe so much in the coin and are even advising their citizens to keep buying than selling then it means theirs's something so special about Bitcoin than we can imagine.

without their advertisement i believe you would still figure out way to understand the important of bitcoin. you don't need anyone to tell you how special bitcoin is. 

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?

you would not blame them because they are not conversant with the new development which is bitcoin. bitcoin is a risky investment because it is volatile, and anything volatile may even fall to zero. so they prefer physical assets than online asset because that is what they are best known for. 

[Cryptomultiplier]

Am sure it would look absolutely ridiculous to do so, I mean as an African business man advocating for Bitcoin.
 To what end actually?  What's the gain?
It is like inviting the government police to a street party and then telling the people who came for the party to not be scared and do drugs or do whatever the hell they want. Imagine the scenery.

The concept of Bitcoin and the Blockchain network should teach any smart person to understand that it is supposed to be a personal kinda bank. Private. Hence why we have privacy wallets, P2p merchant systems, and other privacy tools to ensure that transactions are private enough.
So when the government comes in, with stricter regulations that serves their greed in form of heavy taxes and fees, in form of investigations for money laundering that have no claims originally, then what's going to be the point of going all bullish or advocating for such, knowing fully well that it is more beneficial if Bitcoin is used in a more private manner while abiding to kyc requirements and regulations?

[Barikui1]

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?

First of all, you need to understand say in terms of technology we still dy far, our government generally across Africa have that mindset of doing things that mostly benefits them directly, you don forget say Bitcoin na currency wey them no go fit get full control of, so is like taking away power from their hand, and you and I know how our leaders like power reach, so if them start advocating for Bitcoin, to them is like shooting themselves in the foot, so you see the reason why African leaders no dy reason Bitcoin even upon say other leaders around the world don dy advocate for am.
Then as for the case of people like dangote advocating for Bitcoin, honestly e go be a very terrible mistake to his business for we country especially because government go deal with am wetin no good, and you and I know say anything wey government no approve them go fight am, and even fight the person wey raise the topic in the first place, so na wise decision for people like dangote and other business men to stay mute, until government shake body and give go ahead concerning that department, if not e go really dy unwise for them to advocate for Bitcoin, because their business go suffer for government hand I swr.

[Zanab247]

It is what u have knowledge about u will advise other people to involve, Majority of African business men and women are not into BTC investment, but if u are talking about oil business, I guess they are among the top business men in the world and dey can advise people to go into oil business. African leaders don't rush into investment dey have not see the founder or director of the investment physical, and if u involve in such investment and bad things happen to the people u introduce to the BTC investment, it will make that leader to receive legal punishment from the judiciary of the country.

I guess u heard the news that is spreading about the decentralized digital project Argentina president introduced to his country that turned to scam project, I guess this is what some African presidents are avoiding not to make BTC legal in African.

[Coyster]

Whilst some of dem fit dey invest in bitcoin privately, no be only for Africa wey businessmen no really dey advocate for bitcoin. Most of these billionaires are above 50-60 years of age, and they have always worked with business models they are familiar with and that's what has made them what they are now. I go talk say many of dem no really understand bitcoin and dem no wan dey exposed to the risks involved.

Take Warren Buffet for example, him no care about bitcoin, him dey even advise people make dem no buy am, and people dey talk say na because of his age. If you check well, the younger people who are very rich in Africa go get some kind of involvement in bitcoin and cryptocurrencies.

[Stormisover]

it is easier for a business that is in the technological niche to be bullish on bitcoin than a random businessman like Dangote that doesn't care much on emerging technology to invest into bitcoin or make statement that shows that he is one that is interested in bitcoin. your area on investment is mostly dependent on which area you are conversant with and how well you know it to the point you can comfortably risk your money and personality in it.

most of our African businessmen are in the oil and gas sector with just a few that are in agriculture and other not too serious sector, the ones that are in the technological groups actively make use of bitcoin and some of them have some bitcoin holding that they are keeping without making it go public. times are changing and the generation we are getting into have youths that are knowledgeable on bitcoin investment like the person of B LORD that is a core bitcoin enthusiast that has made himself known publicly as one that is bullish on bitcoin as not just an asset but also as a means of carrying out financial transaction.

It is very possible that even some of this business men are already in to Bitcoin but has decided to keep it in a very low profile and also considering the fact that our government leadership are not fully grounded with the knowledge of Bitcoin even though I can still tell that some of them can also be investing and decides to keep it low why pretending they know nothing about Bitcoin because inside leaders there are  leaders as it's politics, there can be changes any way if the younger generation are giving much of the opportunity to take over power in the government they can influence some changes that can advocate for bitcon.  It is possible that most of the African business men are not inclined in the digital world.

[Ndabagi01]

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.

The United States president actually didn’t like the idea of bitcoin or other cryptocurrencies, but when he did bought a new ticket to contest for another seat of the president, the condition of things at that time necessitates him to have bitcoin loved and use it for his campaign to get into the seat. I am very much happy that he’s still an advocate of it and not disappointing the community that gave him vote to be on that seat through the live he showed to the technology they’ve all embraced.

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?

Dangote or any other top business Nigerian or African love for bitcoin may not have any effect on it or it won’t even help in promoting their business and that’s what all business men are after, how to multiply their money always. It is the government that is suppose to show that interest in bitcoin and then other big businesses in the country will now take a step to further advocate and integrate them into their businesses. Within the governments approval, no business person will be able to do anything much on the adoption of it no matter how they try to.

[Bravethug]

We don't even need to ask why Dangote is not using or investing on Bitcoin because is simple that he doesn't want to invest on Bitcoin, however how could you expect a businessman to go and advice the nation why they need to have a Bitcoin reserve, he could obviously be putting his business at risk considering the hatred the government has for it, so even if i was in the place of Dangote I will keep my interest on Bitcoin very private because if you create an awareness that would influence the government ethics they will bring your business down before you could even think of that.

This statement is on the right track, dangote is a business man that's making sure his business grows more so there are something's we don't expect him to do, government have interest, so any business man that really want to thrive in any country  must be careful in what they suggest or advise the government to do, in as much as i support bitcoin reserve in our dear country, I will still have to state it clear that bitcoin reserve is not the major problem we have currently, we gat a non working economy to fix so I believe we should start from somewhere first, bitcoin reserve is good for this country but dangote has got some issues with this government form the beginning and to that effect he can't take such step because he understand the danger that may be accompanied with such stand if he does, he may personally be a holder or major investor in bitcoin investment however, such investment will remain secret for the safety of safety of his businesses sparead across this country, so we shouldn't expect anything from him in the aspect of bitcoin for these reasons that has been stayed already.

[Ever-young]

African businessmen are not bullish in advocating for bitcion.they are not properly informed about it because they are use to other ways of investing the finances.but things are changing with time more business men will flood in having more bitcion.

Misinformation indeed can be the reason why they are not bullish about bitcoin, and that will change if one businessman which is close to the other one take a bold step invest in it and get profit out of it sharing the testimony alone might make them believe on it, another thing too is most business men care much about what they can put their money on and see their profit coming and not to be waiting for Bitcoin for year or even the fear of losing if bearish market comes.

[Cossyblack]

African businessmen are not bullish in advocating for bitcion.they are not properly informed about it because they are use to other ways of investing the finances.but things are changing with time more business men will flood in having more bitcion.

Misinformation indeed can be the reason why they are not bullish about bitcoin, and that will change if one businessman which is close to the other one take a bold step invest in it and get profit out of it sharing the testimony alone might make them believe on it, another thing too is most business men care much about what they can put their money on and see their profit coming and not to be waiting for Bitcoin for year or even the fear of losing if bearish market comes.

You can't be certain that most Africa business men are not into Bitcoin investment,The world is changing and gone are those days when an africa businessman only show interest on his domestic business alone. I believe the main purpose of doing Business is to make profits, doesn't matter the kind of business as long as it's legal. In Nigeria here in particular,many top Business men are into bitcoin investment but wishes to keep it secrets due to fear of the government,and the reason why most of this top Business men are keeping a low profile on their bitcoin investments is due to the government hostile attitudes toward Bitcoin. The Nigeria govt have declared a total clampdown on exchanges and have even instructed commercial banks to report suspicious transactions and even threatened to arrest citizens involved in Crypto related activities. Tell me if you're  a Top Businessman in Nigeria that's have a Bitcoin investments,will you make it  known to the General public that you have a Bitcoin portfolio, I believe that answer will be No because you're not foolish because if you do,the Govt will start coming after you and might even arrest you &charge you to pay a huge sum of funds for going against govt rules. Furthermore we should drop that notion that Africa particular Nigeria business are not bullish about bitcoin or investing in bitcoin, They're super Bullish about bitcoin,just keeping a low profile to protect their bitcoin investments from govt preying eyes.

[Dailyscript]

African men prefer physical business so it will be difficult for them to see how profitable they can be if they just leave their funds in Bitcoin unless that business man is well grounded with the knowledge of bitcoin. It will take someone who have a friend, brother or a mentor in bitcoin investment to get the knowledge they want.

However, if African businessmen will save their holdings in Bitcoin rather than keeping them in the bank thy will surely be bullish.

[Juicyhome]

African men prefer physical business so it will be difficult for them to see how profitable they can be if they just leave their funds in Bitcoin unless that business man is well grounded with the knowledge of bitcoin. It will take someone who have a friend, brother or a mentor in bitcoin investment to get the knowledge they want.

However, if African businessmen will save their holdings in Bitcoin rather than keeping them in the bank thy will surely be bullish.

Is not that the African businessman doesn't have the knowledge about bitcoin or not aware of the benefits from bitcoin,but they don't want the government to ban their business, Africa leaders are yet to embrace crypto and they see those in crypto as fraudsters. The Businessman wants to invest but the limitations and fear of being ban keep draging them backwards. Even at that soon still invest on personal preference not in open.

Bitcoin can only get more African businessmen investment when the countries accept bitcoin just the way Western world has adopted bitcoin, every company and businessmen in the west has bitcoin for saving. 

[Dzwaafu11]

We don't even need to ask why Dangote is not using or investing on Bitcoin because is simple that he doesn't want to invest on Bitcoin, however how could you expect a businessman to go and advice the nation why they need to have a Bitcoin reserve, he could obviously be putting his business at risk considering the hatred the government has for it, so even if i was in the place of Dangote I will keep my interest on Bitcoin very private because if you create an awareness that would influence the government ethics they will bring your business down before you could even think of that.

Exactly. Someone like Dangote has an influence that if he advocated or created awareness about Bitcoin today, millions of people would follow what he said, and he would invest in Bitcoin big. What about the risk? If you thought about it, then there will be a big problem and it can bring down his business.

And also the government is the major reason why even if Dangote has an interest in bitcoin, he will keep it private, not public; the government is not in support of it, so if Dangote tries to make it clear and wants people to invest, it will affect his business. So what you said is true; seriously, the government is against it, and he can’t make his interest in Bitcoin open. Even if he does, it will be private.

[Mate2237]

We don't even need to ask why Dangote is not using or investing on Bitcoin because is simple that he doesn't want to invest on Bitcoin, however how could you expect a businessman to go and advice the nation why they need to have a Bitcoin reserve, he could obviously be putting his business at risk considering the hatred the government has for it, so even if i was in the place of Dangote I will keep my interest on Bitcoin very private because if you create an awareness that would influence the government ethics they will bring your business down before you could even think of that.

Exactly. Someone like Dangote has an influence that if he advocated or created awareness about Bitcoin today, millions of people would follow what he said, and he would invest in Bitcoin big. What about the risk? If you thought about it, then there will be a big problem and it can bring down his business.

And also the government is the major reason why even if Dangote has an interest in bitcoin, he will keep it private, not public; the government is not in support of it, so if Dangote tries to make it clear and wants people to invest, it will affect his business. So what you said is true; seriously, the government is against it, and he can’t make his interest in Bitcoin open. Even if he does, it will be private.

No body will invest in a place where there are no favourable laws because when it comes to business the environment that a business is been rund matters a lot and coming to Africa as it comes to regard to Bitcoin the African governments has been cold towards Bitcoin, so you don't expect people to put their money in a place where the business environment is not fully conducive for business.


There are government in Africa today that is still opposed to anything called crypto currency this is because such countries leaders has closed their minds about Bitcoin due to the fact that they have heard negative things about crypto currency especially Bitcoin, for now the African market in terms of crypto currency is still emerging due to the fact that there is more awareness level now, but in the future more African billionaires will invest into Bitcoin but I don't see that happening now

[Agbe]

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?

These businessmen are buying Bitcoin secretly and even some Dangote group of staff has Bitcoin secretly bought. If any company could make an announcement of acquiring Bitcoin, then government would certainly not be able to do business with them anymore. Most of these companies sometime relies on government for funding and other assistants whenever there is slow production and deliveries. So invariably, it'll sound as if the company is not respecting the order of the government to steer clear from digital currency.

But most African countries has started adopting crypto currency and has even started the legal process of making crypto currency legal in the their countries just like Nigeria that has approved crypto currency and the Nigerian security and exchange commission has approved of it so I don't think that government has nothing to do with these companies or business moguls not having interest in investing in Bitcoin, I think that these people are only studying the situation of Bitcoin and see how they can go into it or maybe  they are not interested investing in Bitcoin

[Jegileman]

We don't even need to ask why Dangote is not using or investing on Bitcoin because is simple that he doesn't want to invest on Bitcoin, however how could you expect a businessman to go and advice the nation why they need to have a Bitcoin reserve, he could obviously be putting his business at risk considering the hatred the government has for it, so even if i was in the place of Dangote I will keep my interest on Bitcoin very private because if you create an awareness that would influence the government ethics they will bring your business down before you could even think of that.

You are very correct and that’s the best thing for him to do. If you see a businessman succeeding in his business in a country, just know that he got the support of the government to have come this far and that the government also benefits from him business very well. He would want to protect the government in his best interest and that’s how also the government will protect his in there best interest even if they can’t be trusted fully and take their own selfish desire first before any other thing you can think of. I doubt if there is a business person in the globe that have heard about bitcoin and not showed interest in it, they may be doing it in hidden but would have love to be part of it after the American government showed his support for it. Dangote can take his time but I know when the time is right, you’ll see them all running to be part of the technology.

[Felicity_Tide]

is it that they don't believe in Bitcoin or they don't pictures a positive future with it?

You can never know, just because Dangote and other rich/top business men are not promoting Bitcoin does not necessarily mean that they don't own any. These guys are top business men, so I believe they are also seeing what we are seeing, but maybe choosing not to make a public statement is solely based on their own decisions.

Everyone must not necessarily know what you invest in. Other top individuals that promote Bitcoin are doing it for the "love of Bitcoin", and for themselves as well, because they don't want anything funny to happen to their investment along the line. Bitcoin must grow, and for Bitcoin to grow, it needs more adoption.

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?

I don't think Dangote is the type that advices the nation on what to do. He focuses mainly on his business. Owing a Bitcoin reserve is not a bad idea, but is that what the country needs at this point?, not sure. Like I said, some of these men might be accumulating secretly, let's not be deceived by their silence.

[Ever-young]

We don't even need to ask why Dangote is not using or investing on Bitcoin because is simple that he doesn't want to invest on Bitcoin, however how could you expect a businessman to go and advice the nation why they need to have a Bitcoin reserve, he could obviously be putting his business at risk considering the hatred the government has for it, so even if i was in the place of Dangote I will keep my interest on Bitcoin very private because if you create an awareness that would influence the government ethics they will bring your business down before you could even think of that.

On point, that is why most African businessmen do most of their work private and people might just be thinking one aspect of life that is producing the money, not knowing that they also have another means in which contribute to their wealth secretly. That is why they said’ Don’t judge book by its cover’.
So most business owners makes more money from investing in bitcoin, but they won’t show people the other side because of their reputation or the risk involved just as you said, even some of our leaders might be doing the same but be pretending that they don’t want it but deep down, they don’t want bitcoin to go away.

[Mr Reporter]

it is easier for a business that is in the technological niche to be bullish on bitcoin than a random businessman like Dangote that doesn't care much on emerging technology to invest into bitcoin or make statement that shows that he is one that is interested in bitcoin. your area on investment is mostly dependent on which area you are conversant with and how well you know it to the point you can comfortably risk your money and personality in it.

most of our African businessmen are in the oil and gas sector with just a few that are in agriculture and other not too serious sector, the ones that are in the technological groups actively make use of bitcoin and some of them have some bitcoin holding that they are keeping without making it go public. times are changing and the generation we are getting into have youths that are knowledgeable on bitcoin investment like the person of B LORD that is a core bitcoin enthusiast that has made himself known publicly as one that is bullish on bitcoin as not just an asset but also as a means of carrying out financial transaction.

It is very possible that even some of this business men are already in to Bitcoin but has decided to keep it in a very low profile and also considering the fact that our government leadership are not fully grounded with the knowledge of Bitcoin even though I can still tell that some of them can also be investing and decides to keep it low why pretending they know nothing about Bitcoin because inside leaders there are  leaders as it's politics, there can be changes any way if the younger generation are giving much of the opportunity to take over power in the government they can influence some changes that can advocate for bitcon.  It is possible that most of the African business men are not inclined in the digital world.

I agreed with you but not only the business man who invested in bitcoin lowkey even Government officials might also invested in bitcoin but still chose,

[Y3shot]

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?

Most of how African men who are advance in age they do not fancy things like bitcoin,  what they are most interested of is there business,  I don't really know if some are into bitcoin investment but do not show it open. In Africa you hardly see leaders who are promoting bitcoin,  this is because they do not have interest. If our leaders understand the value of bitcoin,  it would have made so many to have interest on it but the African youth are taking bitcoin very serious and more people are getting know it more.