Nigeria’s Bitcoin adoption has been backed by Jack Dorsey, the CEO of Twitter, through a series of tweets. Dorsey is also known among the gigantic personalities of the crypto community. Consequently, a lot of significance is given to his tweets despite their simplicity, directness, and modesty.
The series of tweets by him were initiated with the presentation of the Nigerian flag only. The tweet resulted after two days of the country’s ban over Twitter. The cause of this ban to come into action was that Twitter was deleting President Buhari’s tweets.
The tweets about Nigeria and Bitcoin (BTC)
Shortly, on the same day, another tweet was published by Dorsey, which showed a handshake between Bitcoin and the Nigerian flag. His next tweet alluded to the statement mentioning that Bitcoin will be led by the people of Nigeria. This tweet was quoted again by a football player of the United States named Russell Okung in an open letter to the President of Nigeria.
That open letter was published by Okung in the Bitcoin Magazine. In the letter, the government of Nigeria was urged by the sender to standardize biotin as a national currency. It was revealed in the letter that this decision will be faced by all the nations very soon. While the people proactively seizing that moment of decision, those will be enjoying the global benefits of vital significance for several next generations, as was seen in the case of El Salvador.
The last tweet of Dorsey was directly according to the subject in which there was a graphic representation of Bitcoin being led by Africa in peer-to-peer trading volume production in 2021.
These tweets do not count for the first-time interest of the company’s CEO in Africa and cryptocurrency. For instance, after touring Nigeria, Ghana, South Africa, and Ethiopia, it was revealed by Dorsey that he intended to have plans for shifting to another country of the continent for some months. Nonetheless, the plan was reconsidered by him to be executed after the wipe-out of the COVID-19.
Cryptocurrency and Nigeria: a gist
Nigeria established its position as the second-largest trader in the world for Bitcoin in 2020. Notwithstanding, the relationship between the cryptocurrencies and the government has not been stable then. But in September 2020, the Securities and Exchange Commission of Nigeria declared a remarkable systematic framework that recognized securities and crypto assets despite the strong opposition of the Central Bank. Now the recent decision of the Nigerian government has lifted it from the traditional shortcomings alarmed by CBN as it has officially landed in the field of cryptocurrency.