Over 6.1 million Kenyans are cryptocurrency holders, according to a new report published by Bankless Times.
The country is third placed in the ranking after South Africa which has 7.7 million accounts with Nigeria taking the lead at 22 million.
According to the report, the African Continent
The price of Bitcoin tumbled 9 percent to Ksh.2.7 million (US$.24,000) last figures last seen in December 2020.
Some crypto analysts predict Bitcoin may hit a grim Ksh.1.6 million (US$.14,000) this year at this rate.
The likely bottom range at 14,000 would represent a drop of around
Cryptocurrency exchange FTX's founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday.
FTX Founder and Chief Executive Sam Bankman-Fried told FT that "proof of stake"
Bitcoin slumped to Ksh.3.4 million ($30,000) for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive U.S. monetary tightening and surging inflation.
The world's largest cryptocurrency by market value fell as low as Ksh. 3,452,681.06 ($29,764) in
Bitcoin value slumped by three percent Monday to Ksh.4.4 million, having moved below the key Ksh.4.6 million level late on Friday
This is linked to the U.S. Federal Reserve's intended move to aggressively tighten monetary policy which will continue to rock the digital asset space.
According to Financial
Bitcoin has risen to Ksh.5,428,966.00, reaching its highest level since December last year compared to when it last slumped to its lowest in January to Ksh.Ksh.4,343,177.
The largest cryptocurrency by market value rose nearly 5 percent to 48,215 U.S. dollars.
Bitcoin is now at its highest level
The value of Bitcoin fell to the lowest level in more than five months since August last year on the back of tumbling cryptocurrencies globally, according to a report by Bloomberg.
The largest cryptocurrency dropped as much as 7.4 percent to Ksh.4,343,177.
According to Bloomberg, digital tokens
The Central Bank of Nigeria joined a growing list of emerging markets betting on digital currency to cut transaction costs and boost participation in the formal financial system.
This makes Nigeria the first country in Africa and one of
the first in the world to introduce a
Bitcoin is at it once again having broken the Ksh.6.6 million (US$.60,000) barrier over the weekend, to a brief high of Ksh.6.8 million (US$.62,600), for the first time in six months.
At the time of publishing this article, the price of Bitcoin
traded Ksh.6,909,469.24, putting it
Russian President Vladimir Putin said that cryptocurrencies were too unstable to be used to settle oil contracts but that they still deserved a place as a means of payment.
Russia gave cryptocurrencies like bitcoin legal status in 2020. It, however, banned digital assets from being used