In a recent statement, technology innovation expert Hanu Fejiro Agbodje emphasized that cryptocurrencies, including Bitcoin, have the potential to unlock global prosperity.
He proposed that Nigeria should consider establishing a Bitcoin reserve, similar to the nation’s gold and dollar reserves, to secure its place in the future of digital assets.
According to Chainalysis, a New York-based blockchain monitoring firm, Nigeria has become the second-largest adopter of cryptocurrency worldwide, with approximately 33% of its population investing in it.
This positions the country just behind India in terms of adoption.
Despite projections of economic challenges for Nigeria in 2025, Agbodje believes the cryptocurrency sector is poised for explosive growth.
Bitcoin, which surged 116% last year, fueled by events like the approval of Bitcoin’s Exchange-Traded Funds (ETFs), the halving event, and Donald Trump’s election win, is expected to see even more success in the coming year.
Agbodje, CEO of Patricia Technologies, shared his optimism during an interview with Channels Television’s Business Incorporated, where he forecasted that 2025 would be a transformative year for Nigerian cryptocurrency markets.
With Donald Trump potentially returning to office, Agbodje sees a more favorable environment for cryptocurrencies both in the U.S. and globally.
“I foresee Bitcoin hitting $180,000 by the end of 2025,” he said, highlighting the bullish outlook for crypto. “This is the perfect time for Nigeria to establish a ‘Strategic Bitcoin Reserve.’ Just like we have reserves in gold and dollars, Bitcoin should be our next big move.”
Agbodje explained that Bitcoin is here to stay, with nations like El Salvador already using it as legal tender and other states in the U.S. following suit.
The advantage of adopting Bitcoin early, he added, lies in the potential for wealth preservation and enhanced financial sovereignty.
With more governments around the world holding Bitcoin, Agbodje’s call for Nigeria to take the lead on a national Bitcoin reserve is becoming more urgent.
CoinGecko, in its August 2024 report, noted that governments collectively held 2.2% of the global Bitcoin supply, worth $32.7 billion. Countries such as the U.S., China, the U.K., El Salvador, and Ukraine are at the forefront of this global trend.
As we look ahead to 2025, experts like Agbodje remain optimistic about Bitcoin’s growth and Nigeria’s potential to benefit from a strategic reserve.
It’s time for the country to position itself as a leader in the cryptocurrency space.
Nigeria’s future in cryptocurrency is bright, but the time to act is now. Establishing a Bitcoin reserve could be the key to financial stability and prosperity in the years to come.
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