My question to the house is this:
Do you believe that it is possible that Bitcoin could actually supplant land and gold as the chief store of wealth in Nigeria, or will it remain a modern adjunct to the old ways?
My personal opinion is: I see bitcoin bringing a significant change in the concept of wealth, but again, I'm skeptical about whether it will become an alternative to land or gold in a society like my country, Nigeria which values real and material wealth. Instead, it can be a modern addition. It is almost as if you have land on one side and BTC in the digital world on the other. It is better to balance both sides. If someone were to ask this question standing in the present, I think this is the answer that will come.
Would you personally prefer to hold most of your savings in BTC, rather than buy land?
Again, to answer your second question, personally speaking, I would never favor avoiding land altogether and saving in BTC because land has a
(tangible value) that you can touch, leave for your next generation, and use when necessary. BTC can certainly be profitable, but it comes with risks. It is wise to think of the two together - a little land and a little BTC- and have both so that wherever the future takes you, you will always be stable from where you are.
Overall, I think that generations are changing, but the true meaning of wealth is still
security, inheritance, and future provision. No matter how you achieve that, that's the real issue.