Jack Dorsey, the Chief Executive Officer of Twitter and a prominent personality in the crypto market, via his numerous comments on Twitter has shown his unreserved support for Nigeria to embrace BTC. As a famous individual in the crypto industry, his statements regarding cryptocurrency always attract people’s attention, even when they are cryptical and insignificant.
The next day after the Nigerian president disclosed that Twitter will be prohibited in Nigeria for deleting his statement from Twitter, Jack started his successive comments using merely Nigerian national flag. After that, Jack released a second comment with the flag having a handshake with BTC. Again he tweeted a public statement made by Rusell Okung, a US footballer, to the Nigerian leader. The comment was that Nigerians will lead BTC.
The public address by the US footballer was released in Bitcoin Magazine publication, in which he encouraged the government of Nigeria to embrace BTC. He stated that in no distant time, the whole world will have to make such a decision, meanwhile, the countries that will make good use of the current situation, just like El Salvador, will reap substantial benefits worldwide for a very long time.
Ultimately, Jack posted a picture of African nations taking the lead in equal partnership in BTC market capacity increase this year. The Square Chief Executive Officer has always been interested in Africa and the Crypto market. Jack acknowledged after he visited Nigeria, South Africa, Ghana, and Ethiopia, that he wanted to base in Africa for some months last year. Nevertheless, he changed his plan due to the emergence of the Corona Virus pandemic.
Last year, Nigeria emerged as the 2nd greatest in the global BTC market even though there has been an unstable relationship between the government and the crypto industry. In September last year, the Nigerian SEC disclosed an old regulation that identified crypto investments as securities. But this does not imply that cryptocurrency has been adopted because the CBN is still not in support of it.
Earlier this year, the Nigerian central bank (CBN) reinforced its stand instructing all financial establishments not to render any form of crypto-based services. This became a problem for centralized businesses functioning in Nigeria.
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