Is Bitcoin a good platform to invest?
Sam Bankman Fried was the Bitcoin Lord in FTX (Futures Exchange) and he was the Chief Executive Officer (CEO) of the company (FTX), and he having about $26 billions which was equivalent to (#11.4 trillions) and in the 8th of 9th of November 2022 Bitcoin became bankrupt to the rate of $15k and on the of 11th of November, 2022 Sam Bankman-Fried become zero in the crypto space. And he left the position as the coe because of the Bitcoin bankruptcy.
Someone that once Richer than the richest man in Africa and become a poor man within a week. Are you sure crypto is the best place to invest?
Upon all that, Nigerians still have the hope despite the drastic bear market. Most Nigerians are on tears because of the recent crash that came suddenly yet they still have the hope that Bitcoin will still rise again.
Every investment has its advantages and disadvantages, and investing in cryptocurrencies involves strict risks and huge gains. A person can be rich and overnight his capital evaporates, as we saw billionaire Sam Bankman. Therefore, it is wrong to put all our investments in one currency, and among the safest currencies that the crypto community trusts are Bitcoin, but Bitcoin also has risks, but it is not like other altcoins that may collapse and turn investors money into zeros. Everyone and people in general, not just Nigerians, have hope for the return of Bitcoin and the return of the bull market, so we have to initiate the buy, HODL, and prevent any FUD.