Bitcoin’s market value now $468 billion, bigger than GDP of Africa’s largest economy

At the time of writing this report, Bitcoin comfortably outmatched Nigeria’s GDP with a market value of $468 billion.

Originally Published December 26, 2020

By

 Olumide Adesina

The price of the world’s most popular cryptocurrency recently surpassed $25,000, reaching a new milestone of $25,199.50 on FTX exchange and surpassing the Gross Domestic Product of any country in Africa.

What this means

Africa’s largest economy, Nigeria has a GDP, valued at $$448.1 billion. At the time of writing this report, Bitcoin comfortably outmatched Nigeria’s GDP with a market value of $468 billion.

It’s important to note it also outsizes many leading African economies including, South Africa – $351.4billion, Egypt – $303.2billion, Algeria – $169.98billion, Morocco – $118.7 billion, Ethiopia – $96.12 billion, Kenya – $95.5 billion, Angola – $94.6 billion, Ghana – $66.9 billion, Tanzania – $63.2 billion.