Why is Bitcoin $86K in Nigeria?
Why is there such a gap between Bitcoin prices in various nations? This article sheds some light on that very question
Why is Bitcoin $86K in Nigeria? Here’s why the BTC premium is huge in some countries
“Since the start of 2021, the price of Bitcoin (BTC) has been chasing new highs on a weekly and daily basis. On Feb. 21, BTC reached a new all-time high of $58,300. However, an interesting phenomenon is that even with many global cryptocurrency exchanges in existence, BTC’s price can still vary greatly depending on geography.
This raises an intriguing question: How can Bitcoin simultaneously trade at $53,047 in Malaysia, $49,727 in Singapore, $51,133 in India and over $86,000 in Nigeria? Is the reason simply a temporary imbalance between buyers and sellers, taxes, or regulations? Or is there something else at play?”