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Bitcoin: The Exits Are Closing

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First published at 15:03 UTC on May 6th, 2024.

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https://www.bitcoinuniversity.com/bitcoin-forum

In this video, I discuss how the Nigerian government and central bank have increasingly sought to prevent Nigerians from escaping from the naira into Bitcoin.

In additi…

Join the private Bitcoin forum:
https://www.bitcoinuniversity.com/bitcoin-forum

In this video, I discuss how the Nigerian government and central bank have increasingly sought to prevent Nigerians from escaping from the naira into Bitcoin.

In addition to blaming "speculators" and "crypto investors" for the naira's collapse (which can be attributed rather to Nigerian central bank money printing), the Nigerian government is now seeking to prevent p2p Bitcoin transactions, which is clearly impossible.

We can expect something similar to happen in the US, as the US dollar continues to lose purchasing power and people seek to exit the fiat system into Bitcoin.

Holding a spot Bitcoin ETF or leaving your BTC on an exchange will not provide the same protections against monetary debasement and confiscation.

For this reason, it is very important to buy real BTC and hold it on a hardware wallet.

Learn to use the tools today, before the exits have been completely closed.

Not investment advice! Consult a financial advisor.

Nigeria used to be more pro-BTC:
https://bitcoinmagazine.com/business/nigeria-binance-partner-for-economic-zone-in-west-africa
https://bitcoinmagazine.com/legal/nigeria-looking-to-legalize-bitcoin

Food price inflation in Nigeria:
https://www.bloomberg.com/news/articles/2024-02-27/nigeria-s-top-rice-dish-doubles-in-cost-as-inflation-hits-home

Nigeria Blocks Access to Bitcoin Exchanges:
https://www.nobsbitcoin.com/nigeria-blocks-access-to-bitcoin-exchanges-in-attempt-to-save-plummeting-national-currency/

Nigerian Authorities Blame Binance for 70% Naira Devaluation, Move to Issue Arrest Warrant Against CEO:
https://www.nobsbitcoin.com/nigeria-binance-p2p-standoff/

The Naira Crisis Is Fueling Bitcoin Adoption In Nigeria:
https://www.nobsbitcoin.com/the-naira-crisis-is-fueling-bitcoin-adoption/

P2P crypto ban imminent as Nigeria calls crypto a national security issue:
https://techcabal.com/2024/05/03/p2p-crypto-ban-imminent/

My Favorite Bitcoin Deskt..

LESS