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.

[Lembo69]

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.

Yes, I agree with you. The real problem in a country like Nigeria is not Bitcoin; rather, the problem is the lack of leadership and trust.

If a centralized authority in a country establishes excessive control over the digital assets of the people, it can be risky in the long run. Already, tax and regulatory frameworks are being introduced in Nigeria’s cryptocurrency. In this context, if users are required to hand over their seed phrase or private key to the government or a central institution, then it is not consistent with the core philosophy of Bitcoin.

Bitcoin’s main strength is self-custody. If users rely on a third party for their private key, then any policy change or administrative decision could limit control over the assets. This risks reducing both investor confidence and participation.

While governments can invest in Bitcoin at an institutional level if they want, it is most important for ordinary users to maintain self-custody. In the true sense, Bitcoin can only play a positive role for our country when it is directly in the hands of the people, not under the control of any centralized power.

[Crypto_Timothy]

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?

Mind you, this is the same country that once banned X, then they banned Crypto and now they are taxing crypto.... Like the country has a long way to go but it has to start with the right leadership. Until our leaders see the potentials and need for much better financially stable citizens then we can see Nigeria investing in Bitcoin. For now if you ask any of our leaders what tomorrow holds they will tell you the next election is their priority.

[Livingleged]

It will not be a bad idea for a country like ours (Nigeria) to consider bitcoin investments fostering technological advancement and tackling the problem of inflation that has been a serious problem in the country over the years. But I don’t think this particular government will want to do that but if they had looked into it with a better understanding and neutral mind it will solve the problem of infalation and currency devaluations  and by that individual and will be protected from local currency erosion.

If the government  can consider and adopt it bitcoin to be treated like a reserve asset you know what will happen ? We will all shift away from this dollar dominated holding and
And that will attract foreign investors  that will bring about high yield.

[Judith87403]

There is merit in this view, though it requires realism. Bitcoin may backup financial inclusion, diversification, and innovation, mostly in environment like Nigeria with high with high inflation. The long term performance that it has equally makes it difficult to overlook as a strategic asset. Haven said so, adoption on national level has to be cautious, structured, and size limited. Volatility of Bitcoin, regulatory concerns, and risk of custody makes it uncondusive as a reserve primarily, yet reasonable as a little hedge in conjunction with other assets. When Nigeria takes it through clear regulation, secure custody, and holding for long term instead of speculation it can benefit from both returns and spillover technologically without getting to expose the economy to shocks that is unnecessary.

[Felicity_Tide]

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

Nahhhh... They are the cause of the inflation, so they should rather fix. It's a general problem that has affected the citizens the most, so it needs a general solution, at least, to be reduced to a certain level. That aside, well, the government investing in Bitcoin is not a bad Idea, but the reality is, they're never going to do so. And even if they do so, it would be of no use because you already know what's going to happen. And just to be clear, the economy problem needs a thorough fixing, which Bitcoin won't primarily do.

Personally, I would rather prefer to encourage the citizens to invest in Bitcoin than to actually waste my time encouraging the government. The facts remains that the economy will continue to remain like this for as long as possible, so citizens can at least help themselves in one or two ways by investing if possible.

[Joy_learns_crypto]

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.

I concede to wetin you write, the koko no be wetin bitcoin can do for Nigeria and hoping the Nigerian government start taking part in bitcoin.
The government no go use the bitcoin for the country the government go use bitcoin loot us well, that if them never even start to use am to loot us.
Nigeria government no Dey give us joy and I no the believe say them go bless the country with the opportunity bitcoin get.

[Somto9Light]

The most reason why nigerians should take part in bitcoin investment is due to inflation, because I see no any other means to escape inflation aside from moving all our savings into bitcoin. So therefore there are more reasons why we should hold bitcoin, for me bitcoin is more than what people think nor imagine, bitcoin is a safe heaven because if bitcoin was not there I wonder how we would have manage to escape inflation when it comes Because I have search everywhere to see if there are other alternative but I seem not to find any other alternative/ ways to escape inflation aside from bitcoin. so therefore bitcoin is worth investing.

[Odohu]

Me and you know say this one no go fit work for Naija because we no even get that institutional competence to manage asset like Bitcoin. If them dey move every every for the national cake, omo na government wey wan comot for power go just sell the Bitcoin carry money put for pocket and find one name call am say na wetin happen. Them fit decide say na termites eat the Bitcoin and we go laugh over am as usual, make skirts and trend it on social media for one week and everybody go forget. Make Naija government forget about investing in Bitcoin if not na better office them go open for these yahoo men wey dey government.

[Gozie51]

Nigeria is not yet ready for such kind of investment just like el Salvador rushed into it and have revisited their decision to make btc their legal tender. In same vain, Nigeria should not rush into such and infact they are not ripe for such. Nigeria is not yet developed technologically and I don't see them going into hodling bitcoin in the next 10 years. They should focus on how to run inflation down for Naira to get small value and not to think of investing in bitcoin with borrowed money wey few people go just put for pocket.