Hi HODLers,
Bitcoin's strongest value proposition is for people living in Emerging economies.
Something that most Westerners tend to forget, the main proposition of Bitcoin is to free you from the control your government has on "the money".
A few example with unfortunate recent events:
- Nigeria, where the gov is tryng to force the adoption of its digital currency by banning cash, people have been trying to move to bitcoin to protect their wealth.
What did that do to Bitcoin? It made a huge premium for bitcoin in Nigeria over the price in dollars in the U.S. Bitcoin costs almost double in Nigeria.
- Lebanon,
where the banking system has all but collapsed.
he Lebanese lira lost 90% of its value and the government makes it almost impossible to buy dollars. One of the only way for people to save is through bacl market dollars and Bitcoin!
Bitcoin users around the world
- Vietnam,
which last year was #1 in the Chainalysis rankings for cryptocurrency adoption.
Fun fact:
only slightly more than 30% of all adult Vietnamese having a bank account, the country has one of the world’s lowest rates of financial inclusion.
If only people knew about Hive and its ecosystem in these economies...
Thankfully some do! Mostly in Nigeria, Venezuela and Argentina!
Stay safe out there,