This topic na for our brother and sister them way no want hear word from stopping to the save bulky amount of money inside bank onto savings. I go want drop small data of how the naira value di drop and if say you di hold like 5 million naira for bank since 2020 to 2025 for savings and the carry for mind say your money value still remains same onto say di figure still remain as 5 million naira in 2025, na loss you dey so and you no no.
Oya see a sketchy percentage way naira value done drop onto inflation since 2020 to 2025:
Between May 2024: 33.95% -June 2024: 34.19%
Nigeria inflation rate for 2023 was 24.66%, a 5.81% increase from 2022.
Nigeria inflation rate for 2022 was 18.85%, a 1.89% increase from 2021.
Nigeria inflation rate for 2021 was 16.95%, a 3.71% increase from 2020.
Nigeria inflation rate for 2020 was 13.25%, a 1.85% increase from 2019
Giving a cumulative inflation rate we may arrive at a 158% increase in inflation rate over these number of years. Now imagine an inflation rate of that figure on the value of your #5million presently. Your guess is as good as me.
Now imagine you been leave that money as savings in bitcoin since 2020 to 2025. Bitcoin been be $9,350 in early 2020, and presently 2025 bitcoin done rise to ATH of $123k with the year in the middle. Do your mathematics and calculate how much profit you for done make compared to di loss made in di naira fiat savings.
If you been miss the opportunity to follow chop profit now way people way hold bitcoin the chop, now na time to take di bull by the horns and so you fit follow chop for di next 5 years from now way experts done the predict bitcoin price to close up between $500, 000 to $1 million. https://www.google.com/search?q=annual+inflation+rates+in+Nigeria+for+the+past+two+years&oq=annual+inflation+rates+in+Nigeria+for+the+past+two+years+&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIHCAEQIRigATIHCAIQIRigATIHCAMQIRigATIHCAQQIRigAdIBCTE5OTY2ajBqNKgCDrACAfEFN8nYARYZR3E&client=ms-android-xiaomi-terr1-rso2&sourceid=chrome-mobile&ie=UTF-8https://www.macrotrends.net/global-metrics/countries/nga/nigeria/inflation-rate-cpi