1. Bitcoin helps Nigerians escape inflation and protect their wealth:
Bitcoin helps Nigerians escape inflation by allowing them to save money in Bitcoin which holds value better than the Naira, that loses value due to rising prices and devaluation.
For example:
If you were saving 500 thousand naira in a bank in Nigeria far back 2019 till now the money has lost value however saving that same amount in Bitcoin and holding it till date would have added more value to the money equaling it to millions of Naira today.
There has to be wealth first before there is something to protect. By my assumptions, I think that we have more average Nigerians who are struggling and looking for a way to get wealthy investing more in Bitcoin than the elites, those who have already established traditional investments and are wealthy through them.
For the average Nigerian, Bitcoin and the potential to invest in it have offered hope.