Nigerians will lead Bitcoin market, Twitter’s Jack Dorsey proclaims
Twitter founder Jack Dorsey has tipped Nigerians to lead Bitcoin, one of the largest cryptocurrency in the world.
Mr Dorsey made this statement 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,” Mr 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.”
Quote-tweeting Mr Okung’s article via his official Twitter page on Sunday, Mr Dorsey said, “The people of Nigeria will lead #bitcoin.”
In February, Mr Dorsey and American rapper Jay-Z gave 500 BTC as endowment to fund #Bitcoin development in Africa and India.
Citing a Central Bank circular in February, Peoples Gazette reported how the Nigerian bankers regulator ordered banks, non-bank financial institutions and other financial institutions to “identify persons and/or entities transacting in or operating cryptocurrency exchanges within their systems and ensure that such accounts are closed immediately.”
Before the ban, Nigeria ranked world’s second-largest Bitcoin by trading volume, according to crypto marketplace Paxful. Also, Nigerians are reported to have traded 60,215 Bitcoins, or more than $566 million in the last five years.
The Central Bank has however announced that it would launch its own digital currency by the end of 2021.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Heading 5
Family struggling to accept reality of Jayden Adams’ death after World Cup outing, says father
Adams played three matches at the World Cup in North America as South Africa reached the knockout round of the tournament for the first time in the country’s history.
NationWide
KWASU research teams secure $43,913 TWAS-UNESCO, N83 million NRF grants
Mr Shaykh-Luqman also encouraged the awardees to mentor early-career researchers.
Heading 4
Nigerians, other migrants on temporary visas in UK shouldn’t be allowed indefinite stay: Kemi Badenoch
The Tory leader said individuals who are not making a significant economic contribution over a 10-year period should not be allowed to stay indefinitely.
Africa
South African police arrest four suspects for drug traffickingÂ
Police said four male suspects, aged between 31 and 34, were arrested at different locations in Springbok and Okiep.
States
Man arraigned over alleged forgery of company documentsÂ
The prosecutor said the offence contravened the provision of sections 312, 322, and 364 of the penal code.
Politics
Niger Delta stakeholders back Gov Diri’s infrastructure drive
Niger Delta stakeholders at the Bayelsa Infrastructure Rebirth 2.0 Breakfast Roundtable on Tuesday endorsed Governor Douye Diri’s infrastructure development agenda.
