Why is Bitcoin $86K in Nigeria?

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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?”

https://cointelegraph.com/news/why-is-bitcoin-86k-in-nigeria-here-s-why-the-btc-premium-is-huge-in-some-countries

 

Master Asked on February 26, 2021 in Bitcoin.
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