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I think all of those Nigerian princes with deep pockets (you know, the ones that email you at random) must be contributing to this premium.

On a serious note, this goes to show how important Bitcoin is for many people in developing countries, particular those who have currencies that are rapidly devaluing (or have already done so).

This is something that many people in developed nations simply do not understand or appreciate, particularly those hailing from countries with (relatively) stable economies and currencies.

Thank you Scott for bringing this to our attention. I had no idea about this premium in Nigeria, and a massive one I must say. When I first read 'Bitcoin Premiums', I thought about the 'Kimchi Premium'.

https://news.bitcoin.com/study-reveals-south-koreas-kimchi-premium-strongly-linked-to-international-remittances-to-china/

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Crypto with Lorenzo
Crypto with Lorenzo

Written by Crypto with Lorenzo

Aussie crypto enthusiast. Nothing here is financial advice + DYOR. I will never contact you first, and beware of unsolicited communication. On X & Bluesky.

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