The IMF Crypto-Point for Nigeria
IMF has a warning for Nigeria: "The International Monetary Fund (IMF), in its latest country report on Nigeria, has raised alarm over the country’s booming crypto economy — warning that if left unchecked, it could destabilize Nigeria’s financial architecture, undermine regulatory controls, and punch holes in already strained capital flow management."
IMF has a point, but it must NOT just focus on Nigeria. I mean in America, most companies buy Bitcoin, close factories, and just watch for it to go up, uP and UP. In other words, you do not need to check balance sheets and see how efficient that company is executing its corporate mission. Today, you check if they have bitcoin as a strategic reserve, and if they do, you buy, pick a bigger pillow, sleep, while the money grows.
Get me right: I am worried because this crypto thing will not continue like this. I mean, do you see the $billions companies are raising to buy BTC, and not to invest in new equipment and factories? But BTC does not produce anything! How is that sustainable?
