The price of one Bitcoin (BTC) in Nigeria has surged to the equivalent of $38,000 in the nation’s local currency, the naira. Surpassing global market levels, the premium on Bitcoin is more than 60% in Nigeria, since the current price of one BTC is slightly above $23,000 at the time of writing this article.

Nigeria is among the leading nations striving towards achieving the consensus and infrastructure of a cashless society, having recently imposed limits on ATM cash withdrawals, introduced new naira banknotes into circulation to combat inflation and money laundering, as well as introduced a domestic card scheme to compete against rival payment pioneers like Visa and Mastercard.

The African nation is beyond crypto-friendly, leading the world in the search query “How to buy Bitcoin” according to Google Trends, followed by Cameroon, Ghana, St. Helena and Cyprus.

Sources:

https://trends.google.com/trends/explore?q=how%20to%20buy%20bitcoin

https://ambcrypto.com/nigerias-cashless-bid-pushes-bitcoin-premium-to-63/

https://watcher.guru/news/why-is-bitcoin-trading-at-37000-in-nigeria