Bitcoin Rockets to $88,000: Nigeria Joins 2025 Crypto Surge

 Bitcoin surged to $88,000 on April 20, 2025, marking a 15% weekly gain and 110% annual rise, driven by US policy shifts and institutional investment, per Reuters. 

Contrary to Channels TV’s reported coverage, no such story was found; instead, Reuters and CoinDesk provide primary data. President Donald Trump’s March 2025 proposal for a US Bitcoin strategic reserve, coupled with relaxed SEC regulations, has spurred confidence, with BlackRock’s iShares Bitcoin Trust ETF recording $2 billion in weekly inflows. 

Miners like Marathon Digital and Riot Platforms saw 25% stock gains, reflecting market optimism. Nigeria’s crypto market, valued at $1.2 billion monthly, benefits from remittances but faces naira volatility, with the currency at ₦1,650/$, per Bloomberg. 

Bitcoin’s rally contrasts with 2022’s $16,000 low, though volatility persists, with a 20% correction risk, per CoinDesk’s fear-and-greed index. Critics warn of speculative bubbles, citing 2021’s $69,000 peak and crash, while supporters see Nigeria’s 25 million crypto users embracing decentralization. The surge aligns with global trends, as Japan and Singapore ease crypto taxes.

Please follow and like us:

100k