The mindset of the average Nigerian I know would rather invest in Bitcoin as an asset to gain money than think of it as a hedge against Naira. That is why you see them liquidating when it has reached a higher price, and of course, there will be a few exceptions, yet this doesn't stop that mentality, it will only show a distinction on how long they hold their asset.

However, with the high price of Bitcoin, is it even best to invest in it against the depreciation of the Naira? I think people will prefer the USD, USDT, and USDC and other stable coins for this purpose, for many reasons.