If I had one million naira to invest today and had to choose between three asset classes – naira-backed investments, dollar-backed investments, or digital assets such as Bitcoin – my choice would still be Bitcoin.
Yes, even now, after the crypto slipped below $100,000 earlier in the week, marking its lowest level since June 22. Despite the recent volatility, Bitcoin’s fundamentals, adoption trends, and investor sentiment all point toward long-term strength that outweighs short-term turbulence.
Why Naira-Backed and Dollar-Backed Investments Aren’t Options for Me
Let’s start with the obvious.
The naira is not investor-friendly right now. Inflation is still high, in double digits. And the currency remains under constant pressure against the dollar. Fixed-income instruments like Treasury Bills or savings deposits offer returns that barely beat inflation, if at all.
Putting a million naira in a local savings account might look prudent, but it’s essentially letting inflation quietly eat into your capital.
Meanwhile, dollar-backed investments offer stability, and in a country like Nigeria, that stability is valuable. But the returns are modest. U.S. Treasury yields hover between 4% and 5%, while access costs and FX conversion hurdles eat into whatever profit you might make. You’re preserving wealth, not growing it.
For many, that’s acceptable. For me, it’s uninspiring. If you’re investing to get ahead, not just to survive inflation, you need exposure to asymmetric growth, where your upside can multiply several times over your principal.
This is where Bitcoin’s appeal shines through.
Yes, it’s volatile, and has been struggling to recover since the Trump-tariff-inspired market crash in October that wiped out about $200 in leveraged positions. But even as the price slipped, the fundamentals are stronger. On-chain data from CryptoQuant reveals that buyers accumulated more than 375,000 BTC in just one month, a record level of accumulation.
That’s not panic selling; that’s conviction buying.
The dip below $100,000 wasn’t just random market noise. According to data from the monitoring platform CoinGlass, over $1.7 billion in crypto long positions were liquidated in 24 hours. That kind of massive liquidation typically flushes out speculative leverage, leaving a healthier, more organic market behind. When that happens, prices tend to stabilize and often rebound.
As of Thursday, Bitcoin was back above $103,800, showing resilience after one of its heaviest shakeouts of the year. Historically, these correction-plus-accumulation cycles have preceded major rallies. In simple terms, when weak hands exit and long-term holders accumulate, the base for future growth strengthens.
Why Now Would Be the Ideal Time to Buy Bitcoin
Every investor dreams of finding that moment when the downside feels frightening but the long-term reward justifies the risk.
Bitcoin, right now, might be in one of those moments. The short-term headlines scream “crash”, but the on-chain behavior tells a different story. Nearly a third of Bitcoin’s supply is sitting at an unrealized loss, according to CoinGlass data, which historically marks points of capitulation and potential rebound.
At the same time, the macro environment supports Bitcoin’s case as “digital gold”. Central banks are wrestling with inflation, global liquidity remains tight, and investors are increasingly searching for assets that are decentralized, scarce, and globally transferable.
Bitcoin fits that bill perfectly. Its halving event earlier this year reduced supply issuance, and every cycle since Bitcoin’s creation has seen the asset climb to new highs roughly a year after halving.
Compare that to the naira, which continues to lose value, or the dollar, which offers stability but no excitement. Bitcoin, by contrast, combines scarcity, borderless liquidity, and the potential for exponential growth, the very things traditional investors dream about but rarely find in one package.
Let’s be clear. This isn’t financial advice, nor is it blind optimism.
Bitcoin comes with real risks – volatility, regulation, and sentiment swings. But the narrative of “digital gold” is more entrenched than ever. Major institutions like BlackRock, Fidelity, and several sovereign funds have dipped into Bitcoin exposure through exchange-traded products. Each new entrant brings liquidity and legitimacy, further reducing Bitcoin’s existential risk.
If you convert one million naira today, roughly $800 at current rates, and buy Bitcoin, you’re not betting on daily swings; you’re betting on the continuation of a long-term structural trend, that digital, decentralized assets will form a core pillar of the global financial system. Even a modest rally could double or triple your investment in a few years, something no naira-backed or dollar-backed instrument can reasonably promise.
If I were to invest one million naira today, I would put it into Bitcoin, not because it’s the easiest or safest path, but because it’s the most forward-looking one. It represents a bet on technology, scarcity, and global adoption. It’s not just an investment; it’s participation in a new monetary paradigm.
Sometimes, the smartest move isn’t the safest one. It’s the one that sees tomorrow’s value before the rest of the market does.