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When Nigerian office worker Chigoziri Okeke bought cryptocurrency for the first time in 2016, he was only looking to make an online payment.
But the 10% gain on his wallet’s balance after a few days fired up the 27-year-old’s interest. Now, the Lagos resident holds more than $50 000 in. cryptocurrencies.
“After my initial purchase, bitcoin’s price spiked a little bit to about $400 to $500 per unit,” Okeke told AFP. “People told me it cost a dollar at some point. So, that motivated me to start investing a certain portion of my salary in cryptocurrency.”
Okeke’s experience reflects the reality of many Nigerians, who are playing a key role in the global hunt for bitcoin and other cryptocurrencies in the face of the economic crisis bedevilling the country.