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32% of Nigerians Use Bitcoin — World’s Highest Percentage

32%-of-Nigerians-Use-Bitcoin-World-Highest-Percentage
  • Twitter’s Jack Dorsey posted about Nigeria as the country with most people using Bitcoin.
  • 32% of Nigerians own Bitcoin, the highest percentage in the world.

On Saturday, Twitter CEO Jack Dorsey posted about Nigeria being the highest percentage in the world to use cryptocurrencies. The CEO seems to be surprised as he tweets “Wow: 32% of Nigerians own Bitcoin, the highest percentage in the world.”

According to Statista, Nigeria is indeed the first among the countries that are using/owns Bitcoin. Vietnam (21%) goes second, followed by the Philippines with 20%. Other countries included on the list were Turkey, Peru, Switzerland, India, China, U.S, Germany, and Japan.

Previously, Vice President Yemi Osinbajo of Nigeria shared that he supports cryptocurrency.

In most countries, currency collapses have caused hardship to most people. Argentina, Brazil, China, Mexico, Russia, Thailand, Turkey, Indonesia, South Africa, and Lebanon, for instance, have all gone through at least one currency devaluation cycle since the 1970s. Bitcoin, on the other hand, has a fixed and predetermined monetary policy.

Countries that are using own cryptocurrency
Countries that are using/own cryptocurrency | Source: Statista

Alongside Jack’s tweet, he also linked an open letter the US Senator Elizabeth Warren written by a crypto enthusiast. It can be recalled, Senator Warren has been publicly sharing her views against Bitcoin and the whole crypto itself. Thus, she’s been pushing tough crypto regulations in the Senate.

In the open letter entitled ‘Why Progressives Should Love Bitcoin: An Open Letter to Senator Elizabeth Warren’, writer Samantha Messing said,

As the Nigerian naira plummets in value, Bitcoin has become a necessity. 32 percent of Nigerians own Bitcoin, the highest percentage in the world. Furthermore, remittances into Nigeria exceeded $17 billion in 2020, and a substantial proportion of this value is conveyed in Bitcoin.

Lastly, she said, Nigeria has one of the youngest populations in the world. Thus, the writer believes this progressive cohort increasingly embraces Bitcoin. Ending her open letter with a handful of syllabus links regarding Bitcoin as she wants people to truly understand it.

Britney is a market analyst who covers stories about the cryptocurrency world. She holds a Business Administration Degree in Finance and aims to let the readers understand crypto from a beginner perspective.