- Now is the time for Nigerians to take advantage of bitcoin according to American footballer, Russell Okung, in open letter to President Buhari
- The Nigerian-born NFL player said hope of the country lies within this generation that has adopted bitcoin before the Central Bank ordered closure of crypto-linked accounts
- Okung said bitcoin will grow the country’s economy which is currently dragging its feets following the COVID-19 pandemic which affected Nigeria’s gross domestic product
American footballer, Russell Okung, has written an open letter to President Muhammadu Buhari, informing him to give bitcoin a chance in order to create wealth for Nigerians.
Okung, who is born to Nigerian parent, said the cryptocurrency will assist in growing the country’s economy amid the negative impact of the COVID-19 pandemic on Nigerians.
He said now is the time for Nigeria to take advantage of the value of bitcoin, as the digital currency will soon become a scarce commodity due to its limited circulation of 21 million coin in circulation.
“As this simple yet unique property of scarcity becomes more widely understood, the economic laws of supply and demand will create a global frenzy to acquire as much bitcoin as possible, before it’s too late.”
Bitcoin can help Nigeria attain greatness
Okung said Nigeria will attain international greatness if President Buhari adopts bitcoin standard. He said countries like Iran, Russia, China, Kenya and El Salvador, as well as Barbados, Singapore and Malta are using it to create wealth and overcome US sanctions to grow their economy
The NFL player stated that:
“I’m proposing an equally aggressive approach to national Bitcoin adoption which would significantly bolster every sector of the Nigerian economy and revitalize the spirit of every Nigerian domestically and abroad.”
He added that:
“Nigeria does not need to ask for permission from any other nation nor acquire a license nor secure a trade agreement from any corporation to reshape its economy with Bitcoin.
“All that is required is a vision for a new future and an allocation of its own national resources to pursue a Bitcoin standard.”
Meanwhile, Legit.ng had previously reported that bitcoin investors disagree over the decision of the Central Bank of Nigeria to launch the country’s digital currency.
While one investor supported the decision, another faulted the Federal Government for trying to create another alternative to bitcoin, ethereum and other cryptocurrencies.
The financial regulator had stated that Nigerians will have access to the digital coin back by the government before the end of the year.