These Americans are just unique in the way they do things. Imagine one company holding around 214,246 bitcoin, valued in $billions, in an asset class the nation’s top private-sector banker (JP Morgan’s Dimon) has called “pet rock”, and the nation’s investing legend (Buffett) has called a “probably rat poison squared.”
In engineering, they have this curve they call gaussian distribution curve where at the center, you have massive concentration but at the edges, they have few things (bell shape like). Companies like MicroStrategy play near the edges and in the end, America can cover all parts of that distribution. Yes, if bitcoin turns out just fine, America is well represented to benefit.
I am not a bitcoin person, but I respect how you can have a mix of everything in an economy. I do hope one day, Nigeria can offer us the option to have the capacity to cover every space in the gaussian curve, instead of asking all of us to follow a rectangular shape where we all must be boxed to think in the same way! Indeed, as that happens, the government must engineer policies that will make the economy resilient to avoid catastrophic impacts.
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(Not telling anyone to buy coins; just commenting on the benefits of having radical, cool, hot, etc, minds in an economy, with rights to win and lose in a free market system)
MicroStrategy Vigorously Adding Bitcoin to its Balance Sheet
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Nigeria is too tribalistic, not many Nigerians have nationalistic view of things. With racism, you can still have development, only that the minority might be sidelined. But with tribalism, you are never going to have any development, because it’s either you constantly see self-sabotage or tribes canceling out themselves. So, before we can dream of having a mix or diversity in economic options, we need to first know how to create more economic centres of power.
How many economic centres of power has Nigeria intentionally created and developed since its independence? What do you think is the reason for lack of such viable centres? A foreigner can fly into Lagos, spends weeks there and does all he wants there, without needing to fly to any other city in Nigeria. That is a faulty design, and you are never going to develope with such flawed design. It’s why you can’t have many viable aviation routes across the country too.
With tribalism, all you are left with is destructive supremacy battles, it doesn’t allow for 360° thinking on how to create and scale more economic centres of power, because each tribe wants to hold tight to whatever minute advantage they believe they have, and with that – you stifle development.
Rethink Nigeria.