• Business - Economy
  • Updated: June 13, 2021

Nigerians Will Lead Bitcoin Market — Twitter CEO

Nigerians Will Lead Bitcoin Market — Twitter CEO

Twitter and Square CEO Jack Dorsey has tipped Nigerians to become the leaders of the world's bitcoin space.

He made the statement via a tweet on Sunday in response to an open letter to President Muhammadu Buhari by Russell Okung published by Bitcoin Magazine.

“The hope of Nigeria lies within this generation. I am proudly a Nigerian descendant living in America and am a proponent of Bitcoin,” Okung wrote in his open letter. “I write to urge the Nigerian government to pursue economic independence and financial sovereignty by pursuing a national Bitcoin standard. Soon every nation will be faced with this decision, but those who seize the present moment proactively as we have just witnessed in El Salvador will enjoy significant advantages globally for generations to come.”

Nigeria is currently the world's second-largest bitcoin market. Thanks to the country's tricky exchange rate policy, inflation, and a large number of unbanked adults, cryptocurrencies like bitcoin are increasingly used as an alternative store of value. 

Jack Dorsey has continuously shown unequivocal support for Nigerians in their tussle against bad governance, right from the nationwide #EndSARS protest to the Central Bank's cryptocurrency crackdown and the current ban on Twitter.

In other news, Jack Dorsey has hinted that Twitter will integrate the Bitcoin layer 2 payments Lightning Network.


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