Bitcoin Soars In Nigeria As Government Promotes Digital Cash

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The story "Bitcoin Soars In Nigeria As Government Promotes Digital Cash" was covered 1 months ago by Bitcoinist, a news publisher based in Hungary.

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Bitcoinist 1 mo ago

Bitcoin Soars In Nigeria As Government Promotes Digital Cash - Bitcoinist

Quick Summary:

Bitcoin (BTC) has seen an exponential increase in demand in Nigeria as the country’s central bank encourages the population to switch to digital cash.

As a result, the price of Bitcoin has escalated tremendously above global market levels.

This measure aims to allegedly eliminate money laundering and reduce inflation in the African country, which in the last report of Nigeria’s inflation rate was 21.34% in December 2022.