Current Bitcoin Price in Naira
As of October 2024, Current Bitcoin Price in Naira is ₦100,604,965. This marks a year of major volatility in the cryptocurrency market, especially for Nigerian traders, given the fluctuations in the naira.
Source : CoinMarketCap
Bitcoin Price in 2023
In 2023, Bitcoin’s price ranged between ₦45 million and ₦80 million, showing a big rise compared to previous years. During this time, more Nigerians started using Bitcoin as a way to protect their money from inflation and the falling value of their currency.
Bitcoin Price in 2022
In 2022, Bitcoin’s price in naira went up and down, that fluctuated between ₦20 million and ₦50 million, which is affected by changes in global markets and Nigeria’s economic struggles. Even with these ups and downs, many Nigerians still chose Bitcoin as a preferred way to secure their money.
A Massive Climb from 2008 to 2024
Since its launch in 2008, Bitcoin’s value has grown massively from almost nothing to what it is currently. In Nigeria, the adoption of Bitcoin as a hedge against the naira’s instability continues to rise making it one of the most traded cryptocurrencies in the country.
As the Nigerian saying goes, “When the bush burns, it is the rabbit that suffers.” In these unstable times, Nigerians are using Bitcoin to manage the challenges of economic instability.
