I think it would be the greatest investment if the Nigerian government should divert 20% ($5.4b) of our foreign reserve (about $27b) into bitcoin.

After the Japanese government passed law that recognized Bitcoin as a legal tender, It's demand has skyrocketed, with its value surging over 50% in few months. If the world's 3rd largest economy could recognize Bitcoin as a currency, it's just a matter of time before other countries follow suit.


Now this is where it gets interesting:

* Bitcoin is a decentralized cryptocurrency that cannot be controlled by one entity.

* It has a cap of 21 million coins. Unlike dollar, it is a deflationary currency. That is, it's value can ONLY go higher in years.

* It currently has a market cap of $31b, and 16.3 million coins (75%) have been mined (out of 21million).

In 10 Years time, bitcoin could be at par with the dollar as a foreign reserve. And when that happens, it's market cap could be worth well over $3 trillion.

Now if Nigeria should invest $5b into bitcoin, we could own 10% ($300 billion) of the currency (taking into consideration the price spike such investment would cause).

Having a $300 billion foreign reserve will make our economy 10 times better than it is now.

And it doesn't only apply to the government. Individual citizens should also invest in bitcoin. Any country whose citizens have the largest holdings of the world's currency will be a very rich country.


Me too I've also invested in bitcoin. N10,000 (lol) two weeks ago. The price was $1,700 now it's about $1,900. I will definitely increase my investment. But please take note not to put all eggs in one basket.

Bitcoin is $2700!!!! God!!! Kai I should have bought plenty