32% of Nigerians Own Bitcoin, The Highest Percentage in The World

32% of Nigerians hold Bitcoin (BTC). This is the highest percentage in the world.

32% of Nigerians hold Bitcoin (BTC). This is the highest percentage in the world.
Image of Nigerian by BBC

In an open letter written to Senator Elizabeth Warren, Samantha Messing, a Bitcoin fan, mentioned that Nigeria has the highest percentage of Bitcoin (BTC) holders in the world.

Twitter CEO Jack Dorsey first shared the letter on his Twitter account today.

Messing stated that Nigeria provides a great case study of Bitcoin’s promise and use. Also, she added that political control, currency controls, and violent inflation turned Nigerians into “minimum-wage slaves.” In other words, it means that they must spend their small earnings today or risk losing their purchasing power.

As the Nigerian currency Naira plunges in value, Bitcoin (BTC) has become a must. Following this, Samantha Messing stated,

"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, Nigeria has one of the youngest populations in the world, and, on a globe basis, this progressive cohort increasingly embraces Bitcoin."

In the letter to Senator Elizabeth Warren, Messing also mentioned that Warren's voters own Bitcoin. She added that a recent Harris Poll survey found that 30% of Black and 27% of Hispanic investors in the United States own cryptocurrency, compared to 17% of white investors.

In addition, she noted that the same survey found that most Black and Hispanic Americans view Bitcoin’s decentralization to be a positive attribute.

"Is it any surprise that people who have been most oppressed by the state find appeal in a stateless money? Your voters are rejecting the legacy financial system because it fosters economic and racial injustice and perpetuates wealth inequality," Messing said.

Talking about incompetent and corrupt monetary policy, she said that Argentina, Brazil, China, Mexico, Russia, Thailand, Turkey, Indonesia, South Africa, and Lebanon have had one or more currency debasement cycles over the last four decades. Therefore, they have suffered through currency collapses.

As a result, she stressed that Bitcoin has a fixed and pre-determined monetary policy. "Trusting Bitcoin means trusting math, and billions of people are embracing Bitcoin for this very reason. Bitcoin represents a monetary life raft to the world’s inhabitants," said Messing.