Twitter CEO Jack Dorsey published a post about Nigeria being the country that uses the most cryptocurrencies. He looked surprised at the publication, saying: “Wow: 32% of Nigerians have Bitcoin, the highest percentage in the world.”
According to the Statista website, Nigeria is in fact the country with the highest percentage of the population using/owning Bitcoin.
Vietnam is in second place, with 21%, followed by the Philippines, with 20%. Other countries included in the list were Turkey, Peru, Switzerland, India, China, USA, Germany and Japan.
Wow: “32 percent of Nigerians own Bitcoin, the highest percentage in the world.” 🇳🇬
open letter to @SenWarren:https://t.co/Dl11yxRKyQ
— jack⚡️ (@jack) August 14, 2021
In most countries, the collapse of the local currency has caused difficulties for most people.
Brazil, Argentina, China, Russia, Mexico, Thailand, Turkey, Indonesia, South Africa and Lebanon, for example, have gone through at least one cycle of currency devaluation since the 1970s. Bitcoin, on the other hand, has a policy fixed and predetermined currency.
On Jack Dorsey’s tweet, he also posted an open letter to Senator Elizabeth Warren, written by a cryptocurrency enthusiast.
Senator Warren has publicly shared her views against Bitcoin and therefore, she is pushing tough regulations on cryptocurrencies in the Senate.
In the open letter titled “Why Progressives Should Love Bitcoin, author Samantha Messing says:
“As the value of the Nigerian naira plummets, Bitcoin becomes a necessity. 32% of Nigerians own Bitcoin, the highest percentage in the world. In addition, remittances to Nigeria exceeded $17 billion in 2020, and a substantial proportion of that amount is transported in Bitcoin.”
She also said that Nigeria has one of the youngest populations in the world. Thus, the author believes that this progressive cohort increasingly embraces Bitcoin.
Ending her open letter with a bunch of Bitcoin links, as she wants people to truly understand her.
Despite promoting censorship, Twitter’s CEO has been talking openly about Bitcoin and believes it is the most important technological innovation of our time.
Some of the biggest challenges in the cryptocurrency industry have been public perception and general knowledge of the blockchain up to this point.
A popular figure like Dorsey may be enough to push cryptocurrency into mainstream status, solidifying its legitimacy as a viable financial tool for individuals looking for ways to update their investment practices.
In 2018, Dorsey claimed that Bitcoin would become a global currency, and in 2020, Square bought an estimated $20 million worth of Bitcoin, further solidifying its enthusiasm for the project and its belief in the blockchain.