Betting Big for Bitcoin in Africa – Is Bitcoin Ready?

Cryptocurrencies have been one of the most polarizing concepts of this century, and the divide seems to be growing day by day.

With traditionalists like Warren Buffett and other established names criticizing Bitcoin, modern entrepreneurs, especially from the technology space, like Mark Zuckerberg and Elon Musk, have come out openly in its support. Among all the supporters from the mainstream, one name that has continuously been vocal about crypto, and who is also taking giant strides to spread Bitcoin awareness is Jack Dorsey, the founder of micro-blogging platform Twitter and finance firm Square.

Dorsey has always been supportive of cryptocurrencies, though he made it very clear that he will never be involved in creating a Bitcoin rival, unlike Zuckerberg, who created Libra. However, what he does believe is that Bitcoin will become the native currency of the internet, and this is nothing less than hope for the crypto space.

However, Twitter CEO made a recent revelation that Africa is the future of Bitcoin, and his statement cannot be far from the truth. Several surveys have shown a trend that the demand for crypto is much more in underdeveloped regions where there’s a lack of banking infrastructure. Also, there have been several examples that clearly show that Bitcoin has been more useful in countries with economic instability than first world countries.

Dorsey seemed to be quite impressed with the potential lying in Africa and had been visiting a few African countries like Nigeria and Ethiopia. He continuously posted pictures with technology developers, crypto-blockchain entrepreneurs, and several other professionals from the region, and stated that Africa is the future of Bitcoin. In a recent tweet, he informed that he would stay in the continent for 3-6 months in 2020, without specifying any particular country.

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