Investments
Bitcoin like gold is scarce, this is due to the finite or limited supply of Bitcoin, there are going to be only 21 million Bitcoin ever. I mean EVER! (Out of that only about 16 million is in circulation now, as the rest are continually being mined). With bitcoin you can invest for the future. For Nigerians, Bitcoin can serve as a high profit investment, due to the behavior of the Nigerian Naira in the foreign exchange market.
Last year 5 Bitcoins was worth $1,000, because each Bitcoin was about $200. The equivalent naira rate for 5 Bitcoins was about #220,00 because each dollar was worth #220 on the black market. Fast forward a year later, the same number of Bitcoins now worth about $2,915 since the value of each bitcoin has gone up from $200 to about $583, and the equivalent naira rate for 5 Bitcoins would now be #1,078,550. Can you imagine the profit margin.
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