Post
Topic
Board Nigeria (Naija)
Re: The role of Bitcoin in protecting Nigerian Naira inflation and savings.
by
Joeboy
on 15/08/2025, 13:35:50 UTC
What is your opinion on this? Do you think Bitcoin can prevent inflation and protect our Naira from devaluation?
The simple answer to this is that Bitcoin cannot stop neither can it even prevent inflation or devaluation  at the "national level." The power to control inflation or stabilize naira at the "national level" rest with the Government through their monetary and fiscal policies.  Where Bitcoin truely proves itself as an hedge against inflation or currency devaluation is at the "personal level."  By storing your savings in an asset such as Bitcoin which has a fixed supply (21 million), your purchasing power will be protected over time, if one is disciplined enough to hold through volatility.

At the personal level, Bitcoin can show it's usefulness if one can acknowledge and utilize this principles
  • Making use of a Discretionary Income for Bitcoin Accumulation
  • Treating Bitcoin as a long-term saving strategy and not a get-rich quick tool
  • Makimg use of a simple plan like the NCA/DCA strategy depending on the currency of your investment
  • Practicing self custody. etc.