Bitcoin Investment: BTC is gaining popularity in developing countries

Bitcoin live price

In a new report entitled Bitcoin: knowledge and perception, the company Block presented the perceptions of citizens of 14 countries about the queen of cryptocurrencies. According to the survey, Nigeria, India, Argentina and South Africa are more positive about Bitcoin than most other countries.

A global survey of attitudes toward @Bitcoin shows that South Africans were more positive than most about the world’s largest cryptocurrency. #Moneyweb #Bitcoin #Crypto

This situation is explained by the volatility of the national currencies of these different countries, which makes the BTC an asset to protect itself from inflation. In Nigeria, for example, Africa’s largest economy in terms of GDP, the naira has lost more than 60% of its value in the last ten years. The rupee has lost a fifth of its value against the US dollar, so it is estimated that this fall is 50% for the rand.

BTC is a growing success in Africa

Two of the countries mentioned in Block, inc. they are in Africa. It is no coincidence that cryptocurrencies, and in particular Bitcoin, are of great interest to Africans. Some states are following suit and after the Central African Republic legalized the BTC a few days ago, it is the turn of Uganda consider the regulation of cryptocurrencies.

While BTC has struggled to break the $ 30,000 mark for a few days, a rise above $ 32,649.28 cannot be expected, according to FXStreet. Analysts then expect a slight decline to test this level of support and then a rebound to $ 34,000.

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