Jack Dorsey, the CEO of Twitter and Square, has predicted that Bitcoin (BTC) will see its future “defined” by Africa.
On November 27, Dorsey said in a tweet that he would return to Africa in 2020 after spending time traveling in Nigeria and Ghana this month.
Sad to be leaving the continent…for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I’ll be living here for 3-6 months mid 2020. Grateful I was able to experience a small part. 🌍 pic.twitter.com/9VqgbhCXWd — jack 🌍🌏🌎 (@jack) November 27, 2019
However, during his stint in Nigeria, Dorsey attended a Bitcoin meetup, continuing his personal advocacy of the cryptocurrency.
Mini bitcoin Ghana meetup with @atsudavoh @sy_boahen pic.twitter.com/vJ5a0P2q8e — jack 🌍🌏🌎 (@jack) November 11, 2019
The tech mogul has become famous for his Bitcoin support, having pledged to integrate its functionality into both Twitter and Square. He has also publicly endorsed the Lightning Network as a payment solution, something which allows Bitcoin users to send funds instantly for next to no fee.
Twitter and Square CEO Jack Dorsey has stated that Africa “will define” the future of crypto and “especially the Bitcoin one.” pic.twitter.com/CcDU9trzuA — Cointelegraph (@Cointelegraph) November 28, 2019
Similarly, Dorsey’s comments come as Africa continues to generate significant interest in Bitcoin. As it has been reported, Nigeria regularly features among the most active countries in terms of Bitcoin Google searches, along with fellow African nations such as South Africa.
However, Lagos, Nigeria’s most populous city, is tipped to become a giant metropolis of over 32 million people as soon as 2050, adding to its weight as a market for the cryptocurrency.
According to data from the World Economic Forum, it will be the most populous city in the world by 2100.
In total, by the next century, 13 of the top 20 global cities by population will be in Africa. Local government has so far taken a risk-averse stance on Bitcoin. This month, Ghana revealed it was considering a central bank digital currency, or CBDC, in line with plans from China.
Thus, Nigeria has yet to adopt formal regulation of cryptocurrency.