The world’s two largest digital digital currency, Bitcoin and Ether, are enjoying their best month since 2021, amid a revival of risk appetite in global markets and optimism about an Ethereum network upgrade.
Bitcoin is up 26% in July and Ether 65%, though their rallies paused Friday. Bitcoin was down 2% to trade at $23,538 as of 9:34 a.m. in New York and Ether was hovering around $1,672.ation for a continued rally,” he said.
Investors in the digital currencies in Nigeria are smiling to the bank and are cashing out fast before there is a turn around of event that will make the naira rise again. Every business investment comes with it’s attendant risks and benefits.
While some will currently be biting their fingers for failing to invest in either Bitcoin or Ether when the opportunity fell on the laps, the other smart ones who were bold enough to invest, even in the face of all the dangers will at this season be cashing out.
Going by information gotten from walletinvestors.com, 1 Bitcoin is equivalent to 9588450 Nigerian Naira, while 1000 ETH is worth NGN 685,929,936.06.
Though the Central Bank of Nigeria (CBN), has assured Nigerians that it will do all it can to stabilize the naira, the effect of this fall will surely tell on the pockets of common man on the street and the price of goods and services