It's no news that countries have started to think of the prospect of making Bitcoin a legal tender. I'm sure Our Nigeria as a nation have also been considering the pros and cons of such prospect. If, and when it comes to fruition, how does it affect our economy. Surely, we'll have a competitor and alternative for the unreliable nature of the naira, and a great alternative for the supposedly pushed proposition of the Enaira. Obviously, it would solve a lot of problems. Like the inflationary trends and a great store of value. The changes and effects could be limitless.
I thought it that our government would let Bitcoin be a legal tender in Nigeria because they are financial system control freaks and Bitcoin won't give them the chance to control our finances anymore and that would be a problem for them, there's no thought that making Bitcoin a legal tender in Nigeria will help elevate our economy but I'm very okay with the way I'm investing in Bitcoin without the interruptions from the government demanding for their own share of my funds in Bitcoin. It may not be a legal tender in Nigeria but I'm grateful that I still get to invest and I careless what the government thinks about it, Bitcoin is a decentralized valuable currency and I feel like the rate of crime in the country is likely to increase if it is made a legal tender so I prefer it not be a legal tender.