Africa with a chance for economic shooting

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There were times when owning Bitcoin, except for buying would have been to easily mine them. At such a time the entire thing was much more than just a joke. Many governments were fighting it. Anti-crypto schemes were everywhere, with penalising to individuals and firms government tagged defrauders. Maybe it would have been them leading this tech pace right from inception.

How much is Bitcoin NOW worth? At least we can put it in the range of 100K to 110K. Does this mean anything? Maybe a little backdating will do the trick . There were times when it was selling for pennies. At least from here, anyone could have bought it. It migrated to unit price mark then hundreds.

At least we can say skepticism entered here. Not ALL individuals would be able to avoid it from here. How about when it entered the thousands and tens of thousands. It from here becomes more of a firm dependent asset.

Ok, Bitcoin has reached 100K plus and with the potentials it still holds we are expecting even more green candles. The question here is, where was the government?. I keep on saying it, financial intelligence is the gap between wealth and poverty.

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Have you ever imagined how the economic summary of some countries would have been had they had thrown in some bugs into this technology.

In this article, we will be delving into an opportunity gone by that many nations have allowed to elude them. My concerns mostly will be on many underdeveloped and developing African countries.

I hope you know, 1 BTC is currently worth more than the combined GDP of the TOP 50 poorest countries? Indeed very shocking, the most shocking part is that some of these countries had the chance to bail themselves out but chose to look off.

There were times when Bitcoin mining was very cheap, I will be citing a country like Nigeria for instance. Investing in a powerplant would have been all and all. At least it has dams and even crude oil to talk of.

I am just imagining if the tech sector had set up a Bitcoin mining facility maybe when Bitcoin was worth a few dollars. How would the Nigerian treasuries be looking like now? We are talking of money to pay off many debts and strengthen the value of the Naira.

I checked the entire top 50 poorest list and El Salvador was nowhere to be found. One can't doubt that their Bitcoin reserve has added a lot. From 2021 till date, statistics shows that this country had made close to $450,000 millions as appreciating interest for holding on to Bitcoin. This is just a surface of it, let's imagine what happens if or should I say when Bitcoin hits staggering figures like 500K or $1 million as some predict.

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It has been one of those big chances the European countries have missed. I have discussed this severally how Europe has been careless (if I must say) of the current tech trends. They are behind in blockchain adoption, crypto, web3 and even AI.

I am imagining how the economic turnover like the UK or Germany for instance would have been by NOW. It is still not too late. My concern is how African nations can make the most of what technology has to offer and eradicate poverty.

There is a need to invest in blockchain technology and upcoming potential cryptocurrencies. For instance, at least we are seeing potentials from the top 10 cryptos. Ethereum wouldn't be a bad pick if Bitcoin seems too high to accumulate much.

Bitcoin is still not a bad buy anyway. The fact here is, these top coins and tokens are likely to double up in figures at least in the next

coming decade. Many countries need to learn from El Salvador, we have seen the US under the government of Trump go pro-crypto. It is now part of their reserve; something I feel will be another green candle for them in the long run. In short as it stands, this is helping US to gain more stamina in global economic activities.

To conclude, let me add, there is a pending opportunity that many poor countries can make the most of in the long run; blockchain tech, crypto and well, you can also add web3 and AI. The latter two are much broader pictures. I once asked a friend of mine, all these professors in economics, how come they have not been able to sense these opportunities and inform the people in power.

Why are they even government economic advisers in the first place? Africa should not close their eyes towards what is coming; yes, abundance is coming. Where we are now is just a tip of the iceberg.

Posted Using INLEO