The reasons why Nigeria government should take part in bitcoin investment.

[Jubilee58]

For a country like Nigeria, investing in bitcoin could be a bold decision in the area of digital currency investment. Though investing in bitcoin could be a high risk, and high reward for a country like Nigeria. However, below are some of the reasons why Nigeria should consider investing in bitcoin:

Digital asset like bitcoin can give access to financial services for people in countries having underdeveloped financial system therefore serving as Nigeria financial inclusion.

For a country like Nigeria, investing in bitcoin can be a way of diversification, considering the performance of bitcoin, it is entirely different from other traditional assets like bonds and stocks and can equally benefits of asset diversification for a country like Nigeria.

Country like Nigeria with high inflation rate can consider investing in bitcoin as an hedge against inflation, and also a store of value.

Bitcoin has the potential for high return compared to traditional assets like stock and bonds, and historically Bitcoin has offered astounding return to it's investors. So, Nigeria stand the chance of gaining this high return from bitcoin if they consider it as an asset for investment.

Nigeria investing in bitcoin, could be a way for technological advancement and innovation, making Nigeria to get ahead in the development of Blockchain technology.

However, there is no investment without risk, but if Nigeria can invest in bitcoin with the right approach, the risk of volatility and security would be averted and significant gain would be made on the long run.

What is your take on this?

[Mhizlove]

How I see this . Your point is that bitcoin will be a risk to Nigeria and at same time it's has this serious potential, bitcoin can still help in various financial ways which is boosting of technological development, protecting inflation, and balancing investments diversification.

The koko be say Nigeria should not treat it like gambling but see it as a long term investment or strategy, but rather with a better plan anda little exposure will do wonders and at the end the benefits will be greater than the risk with time or over time .

[Cryptomultiplier]

...
What is your take on this?

The main focal point of Nigeria give right now as regards any such assets that includes Bitcoin and other crypto currencies, is tax remittance. They want to gain revenue stream from these securities and assets because it is like stocks, also because Bitcoin isn't seen or classified as a currency by the government nor do they feel the need to hold a strategic reserve bank for the sole purpose of having crypto currencies as assets.

Until those who are enlightened on how to earn and use Bitcoin for good, share and do more to sensitize the government, the citizens and tribes on how to earn legally from Bitcoin and make wealth through it by a disciplined DCA strategy or lump sum, only then would this same government take the initiative of Bitcoin and crypto currencies seriously and even support and create more jobs in that regard to improve the economy and living standard of the people.

[Donk1]

​Well yeah all your points are accurate and correct but if I may say many folks are already taking part in the Bitcoin investment. Even some tech savvy guys are learning more about the Blockchain technology and indeed all these are driven by the high inflation, devaluation, and many more. that said ​our Nigeria economy is gradually pushing everyone to find an alternative just to store their funds and most times those who do not know about the Bitcoin technology often end up investing their money in shit coins. So, that's just it in a country like Nigeria it's easy to say we often make use of opportunity when given except from folks who do not believe in the digital world or Most likely may have investment in a shit coin and they will just decide in their mind that anything concerning digital is a scam.

​Well we Nigerians have come this far in cryptocurrency / bitcoin adoption rate and I am sure as time goes, more adoption will eventually take place That's all ....

[Abu-Naim]

It will be a good idea to reason about Bitcoin investment to help a deadly economy to rise again, but do you think this will work in country like Nigeria?
I am not condemning the idea in any way, but the situation of the country and the leaders is the main reason why I am questioning the idea of Bitcoin investment, because our leaders can use anything to loot our money, so we can’t avoid silly excuses from them in terms of digital transactions like Bitcoin because our leaders are dealers and looters; we can’t trust our seed phrase and private key in any of their hands, they will steal the Bitcoin and have excuse to give us. So it is not advisable.