Why are African businessmen not bullish in advocating for Bitcoin?

[Son Of Blockchain (SOB)]

 It's no new thing that Bitcoin is the future of money and though it's not been widely adopted yet but we're heading towards that direction, take for instance the current president of the United States was once a bitcoin hater but he's now a strong advocate, top business men who didn't see any future with it in the past are now very bullish about it and buying bulk without selling, if they could believe so much in the coin and are even advising their citizens to keep buying than selling then it means their's something so special about Bitcoin than we can imagine.
 However, what suprises me is that African businessmen and government are not really advocating for Bitcoin like other continents are and it makes me wonder why, is it that they don't believe in Bitcoin or they don't pictures a positive future with it? Why isn't Dangote and his kinds in Africa coming out to speak concerning it and advice the nation towards owning a reserve, like others are doing?

[Salahmu]

We don't even need to ask why Dangote is not using or investing on Bitcoin because is simple that he doesn't want to invest on Bitcoin, however how could you expect a businessman to go and advice the nation why they need to have a Bitcoin reserve, he could obviously be putting his business at risk considering the hatred the government has for it, so even if i was in the place of Dangote I will keep my interest on Bitcoin very private because if you create an awareness that would influence the government ethics they will bring your business down before you could even think of that.

[bestcandy]

It's no new thing that Bitcoin is the future of money and though it's not been widely adopted yet but we're heading towards that direction, take for instance the current president of the United States was once a bitcoin hater but he's now a strong advocate, top business men who didn't see any future with it in the past are now very bullish about it and buying bulk without selling, if they could believe so much in the coin and are even advising their citizens to keep buying than selling then it means their's something so special about Bitcoin than we can imagine.
 However, what suprises me is that African businessmen and government are not really advocating for Bitcoin like other continents are and it makes me wonder why, is it that they don't believe in Bitcoin or they don't pictures a positive future with it? Why isn't Dangote and his kinds in Africa coming out to speak concerning it and advice the nation towards owning a reserve, like others are doing?

I'm not surprise that African business men are not advocating for Bitcoin investment because most Africa business men are more concern about demostic business competition and most of them are political motivated business men that are more interested to have dominant control of their countries economy. Like Dangote who monopolies all sector of Nigeria economy.
considering the risk of not having total control of the income rate of there investment like Bitcoin which only require you to invest your money without being in position to decide the inflow of your income so for this reason most Africa investors are yet to be convince if Bitcoin have quality of money.

[Marvelockg]

it is easier for a business that is in the technological niche to be bullish on bitcoin than a random businessman like Dangote that doesn't care much on emerging technology to invest into bitcoin or make statement that shows that he is one that is interested in bitcoin. your area on investment is mostly dependent on which area you are conversant with and how well you know it to the point you can comfortably risk your money and personality in it.

most of our African businessmen are in the oil and gas sector with just a few that are in agriculture and other not too serious sector, the ones that are in the technological groups actively make use of bitcoin and some of them have some bitcoin holding that they are keeping without making it go public. times are changing and the generation we are getting into have youths that are knowledgeable on bitcoin investment like the person of B LORD that is a core bitcoin enthusiast that has made himself known publicly as one that is bullish on bitcoin as not just an asset but also as a means of carrying out financial transaction.

[Ishicryptic]

Top African business people are not interested in Bitcoin because their governments are not yet crypto friendly, they don't want any problems with their businesses because it would seem like they are being anti government. I wouldn't be surprised if these big men are holding Bitcoin in secret without letting the public to know about it so that they wouldn't refer to them as Bitcoin advocates in the country. If you consider some restrictions that our government have with some top exchanges you will understand why many businesses in Nigeria, don't want to identify with Bitcoin publicly. It is easy for an ordinary person in Nigeria, who is not rich to say that he supports cryptocurrency because he has nothing to loose but people like Dangote, and Mike Adenuga, will not support Bitcoin publicly unless the federal government begins to say something positive like advocating Bitcoin as an asset for national reserve.

[OfficialGratejoy]

Me too thought as much why African countries are not adopting in the system, well the reasons are best known to them for me I really see future in BTC and i advice every African citizen to take a good advantage of BTC before it we be too late, remember america is the world power and america is really into BTC, policy may be made one day that what the world we be using now is cryptocurrency for purchase and business transactions.this is the future speaking through men and women.

[kasablings]

African businessmen are not bullish in advocating for bitcion.they are not properly informed about it because they are use to other ways of investing the finances.but things are changing with time more business men will flood in having more bitcion.

[Gooner0]

It's no new thing that Bitcoin is the future of money and though it's not been widely adopted yet but we're heading towards that direction, take for instance the current president of the United States was once a bitcoin hater but he's now a strong advocate, top business men who didn't see any future with it in the past are now very bullish about it and buying bulk without selling, if they could believe so much in the coin and are even advising their citizens to keep buying than selling then it means their's something so special about Bitcoin than we can imagine.
 However, what suprises me is that African businessmen and government are not really advocating for Bitcoin like other continents are and it makes me wonder why, is it that they don't believe in Bitcoin or they don't pictures a positive future with it? Why isn't Dangote and his kinds in Africa coming out to speak concerning it and advice the nation towards owning a reserve, like others are doing?

The like of Dangote , personally I think have an "old fashioned" sense of reasoning.
I don't think his kind would be pro Bitcoin due to the fact that it goes against what he represents and the non-supportive actions coming from the feds so even if he wants to go into Bitcoin he'll do so privately and not publicly.

[nelson4lov]

Some possible reasons I can't think of from the top of my head:

1. Probably because they'd have no control over Bitcoin internals like they have some degree of control with domestic assets.

2. Bitcoin is classified as a risky asset and some of those businessmen you mentioned are conservative investors.

3. Not informed enough to make an investment decision.

[CryptSafe]

As it stands now, the majority of the African countries and Presidents have yet to talk about Bitcoin which makes obvious their stand which  I believe this is the sole reason why most African business men are careful about talking publicly about Bitcoin because they do not want anything that would get in their way to mar their businesses. Bitcoin has not been generally accepted in most African countries and some presidents are just too ignorant of its existence which makes it difficult for businesses to adopt its acceptance.

Situations such like this are better kept private by the businessmen themselves so as not to escalate issues as they are more of a public figure by their businesses. I would not be surprised to hear tomorrow  that the majority of the powerful African businessmen hold Bitcoin and have been keeping it a secret because of the fear of government actions as a result of them holding bitcoin  which the country has not given their stand on it. Mind you, some business men might just be a target and in waiting  to be attacked if anything found wanting on them by their government who have been waiting for every opportunity to strike them.

[Dee_BlackdAddy]

I thought as much too OP why  African businessmen not bullish in advocating for BTC,and came to understand that many businessmen in Africa have not really been educated about BTC,many too have not heard about it, and many are still in doubt of BTC because they don't see future in it,on like me I have being hearing about BTC for years but I didn't go into it until one of my friend educated me on BTC,after getting the knowledge from him I dived into investing in BTC,till today I'm still investing in BTC heavily,so the reason why our African businessmen are not bullish in advocating for BTC is clear they don't have the knowledge,and a lot of them are not willing to have the knowledge that's the truth no doubt.

[Mate2237]

I think most African especially the top business class are still quite skeptical about the whole crypto stuff this may not be unconnected to the fact that the continent was very skeptical about crypto adoption especially Bitcoin because in most African countries till today the awareness and adoption rate of crypto currency is low coupled with the fact that most government has not still put in the legislative framework to make sure that crypto currency is made legal in their various countries so to me they should not be blamed because the perception about crypto currency is wrong among the people

Maybe in the future more African billionaire's will invest in Bitcoin but for now that Bitcoin is just making it way to the African continent don't expect people to invest because in business there are things that will make people to go into investing in business and one of such is information and and acceptance in a particular environment and currently they are missing in the African continent

[Pokapoka124]

 However, what suprises me is that African businessmen and government are not really advocating for Bitcoin like other continents are and it makes me wonder why,

Apart from El Salvador, Central Republic of Africa and a few others, how many governments in the world do you know that are advocating for Bitcoin?

Why isn't Dangote and his kinds in Africa coming out to speak concerning it and advice the nation towards owning a reserve, like others are doing?

I don’t think Dangote is in the tech business so that could be one reason. We didn’t hear him speak about the poor states of our oil refineries until he entered into the industry so don’t be surprised that he isn’t talking about bitcoin. But there are lots of Nigerians who are in the crypto industry and are speaking boldly about bitcoin like Bitcoin Chief, Blord, Samstickz and the likes. The Nigerian government don’t want Bitcoin, the politicians don’t want anything that can bring about the progress of the nation they are only after their pockets.

[cxtreenal]

Some possible reasons I can't think of from the top of my head:

1. Probably because they'd have no control over Bitcoin internals like they have some degree of control with domestic assets.

2. Bitcoin is classified as a risky asset and some of those businessmen you mentioned are conservative investors.

3. Not informed enough to make an investment decision.

The lack of control over the decentralized Bitcoin system is the main reason for the government's reluctance. If the financial system cannot be controlled, the domestic currency may face risks. Although Bitcoin is a store of value, it is a price-sensitive asset that can fluctuate rapidly. The government may use circuit breakers within the domestic financial system by implementing its own strategy. The Bitcoin system, which is operated globally through blockchain technology, does not care about the financial system of any country. The main goal of Bitcoin is to create an independent financial system for all.

[Juicyhome]

Some possible reasons I can't think of from the top of my head:

1. Probably because they'd have no control over Bitcoin internals like they have some degree of control with domestic assets.

2. Bitcoin is classified as a risky asset and some of those businessmen you mentioned are conservative investors.

3. Not informed enough to make an investment decision.

With those excuses have they not seen how bitcoin has growth beyond  their excuses and negative thoughts, i think we have passed those stages in bitcoin, my joy everyday is that Bitcoin has nothing to prove to anyone how legit the coin is. Bitcoin is an independent asset, and that is the beautiful thing about it, no yeye leaders can control it, that should be enough reason why people should see reason to invest in it, especially  businessmen.

I think the awareness on bitcoin is gaining strength in Africa, just last year a lady organized bitcoin conference in Africa with former twitter owner was the guest speaker, with time so many businessmen will see reason to save in bitcoin. What is really scary is not those reasons u stated above, but the government restrictions on Crypto, it scared them away. They do not want to lose their business licenses, everyone is been careful. With the recent Bitcoin development by Trump administration, if the US pass the Bitcoin reserve bills, the rest of the world will embrace bitcoin in mass, Africa in particular.

[Joy- maker]

It's no new thing that Bitcoin is the future of money and though it's not been widely adopted yet but we're heading towards that direction, take for instance the current president of the United States was once a bitcoin hater but he's now a strong advocate, top business men who didn't see any future with it in the past are now very bullish about it and buying bulk without selling, if they could believe so much in the coin and are even advising their citizens to keep buying than selling then it means their's something so special about Bitcoin than we can imagine.
 However, what suprises me is that African businessmen and government are not really advocating for Bitcoin like other continents are and it makes me wonder why, is it that they don't believe in Bitcoin or they don't pictures a positive future with it? Why isn't Dangote and his kinds in Africa coming out to speak concerning it and advice the nation towards owning a reserve, like others are doing?

OP you know say our African businessmen and our African government no dey like put hand for anything wey them no go get control over an, bitcoin dey operate for decentralized network, for me I think say now one thing wey dey discourage them be that. But we believe with time them fit start to dey advocate for bitcoin.

[Lida93]

Before any Nigerian should be wondering why the African businessmen particularly Nigeria don't advocate or interest themselves in using bitcoin as means of transaction in their businesses, we should foremost analyse our environment if it's conducive for bitcoin. The government are they against or in support of bitcoin? Does their policies says otherwise?

 I think if am a businessman in this part of the world these are the factors I look before going on to publicly include bitcoin as transactional currency acceptable for my business. The political-economy here is different in operation than anywhere in the world. You can literally be accused of going against the government and risk losing your empire.

[Yucky]

One reason why African businessmen are not so interested about Bitcoin is that it's not an African investment, like it's not an investment that Africans started. Then, it's not a physical asset that they can visit the site or see the manager. Imagine being an African businessman in this economy that is fluctuating, then you put a huge amount, like one million, into an online asset where there is no physical shop, there is nobody you can hold responsible for your asset.

Check it now, that's a lot of risk, and that risk can only be taken by a more tech-inclined businessman who knows crypto, who knows it's a long-term investment, that it can fluctuate, but I will get my returns with time. But if it's for the traditional businessmen, they would rather have a physical investment that they can visit and monitor.

So, it's going to take time for African businessmen to just trust crypto blindly. It's not going to be easy. They need very good education, and they actually need to see stability in the market. You can't tell them, 'Oh, it's a volatile market,' and expect them to just jump in. Even though business is risk in general, they say, 'A bird in hand is worth two in the bush.' They would rather hold onto their physical businesses than trust an online asset they don't know who has control over.

[Odogwu-Blockchain]

However, what suprises me is that African businessmen and government are not really advocating for Bitcoin like other continents are and it makes me wonder why, is it that they don't believe in Bitcoin or they don't pictures a positive future with it? Why isn't Dangote and his kinds in Africa coming out to speak concerning it and advice the nation towards owning a reserve, like others are doing?

These businessmen are buying Bitcoin secretly and even some Dangote group of staff has Bitcoin secretly bought. If any company could make an announcement of acquiring Bitcoin, then government would certainly not be able to do business with them anymore. Most of these companies sometime relies on government for funding and other assistants whenever there is slow production and deliveries. So invariably, it'll sound as if the company is not respecting the order of the government to steer clear from digital currency.

[Cryptohygenic]

However, what suprises me is that African businessmen and government are not really advocating for Bitcoin like other continents are and it makes me wonder why, is it that they don't believe in Bitcoin or they don't pictures a positive future with it? Why isn't Dangote and his kinds in Africa coming out to speak concerning it and advice the nation towards owning a reserve, like others are doing?

Brother, bitcoin na decentralized financial resource way people way dey inside the industry fit dey operate codedly without anyone knowing unless you tell the person. So no even say Dangote and some other top African business people no dey invest there. Abi u want make dem com dey broadcast am make govt way dey regulate their physical investments come dey put eyes on dem onto say dem govt never accept am yet? Den e go com be like those senior business men want maneuver dem govt.
See e need high Level of efficiency if u dey deal with govts oh.
Also, na White people invent bitcoin and that gene of adapting to digital and technologies dey inside dem, we Africans na analogues we dey more convenient na y e no easy for our people to dey advocate for bitcoin adoption and remember, na wetin u don test u fit tell better so me and u way dey advocate for the bitcoin now na bcos we don test am and trust am. Likely, we been don also doubt bitcoin wen e reach out notice at first. So no expect say as u don dey convinced make every other persons follow ur lead. That go be blind folo folo oh. Just allow dem make up their minds for their right time. Bitcoin too no be for everybody so, let who no want accept am be make this way believe am continue. The journey of digital investment no be com chop oh.