Episode Highlights

• It has been suggested that cryptocurrencies will never be adopted.
• BlackRock and Fidelity have given their clients direct and indirect exposure to Bitcoin.
• The number of crypto wallets has increased by more than 20 times since 2019.
• Cryptocurrencies, particularly stable coins, are seen as stores of value and a hedge against hyperinflation in sub-Saharan Africa
• Cryptocurrencies are being used to transfer value across borders, especially in countries with strict capital controls and across remittance corridors that are underserved.

Helpful links

BlackRock, Fidelity, and JPMorgan Chase

• https://decrypt.co/112499/fidelity-ethereum-trading-institutions
• https://www.investopedia.com/fidelity-to-launch-crypto-exchange-6665544
• https://www.coindesk.com/layer2/2022/08/18/the-blackrock-trust-crypto-legitimacy-or-the-beginning-of-the-end-for-bitcoin/
• https://qz.com/2072753/jamie-dimon-says-bitcoin-is-worthless-but-jpmorgan-will-sell-it

Cryptocurrency adoption

• https://blog.chainalysis.com/reports/sub-saharan-africa-cryptocurrency-geography-report-2022-preview/
• https://www.cryptovantage.com/news/tracking-crypto-adoption-is-hard-but-data-points-to-nearly-a-billion-users/
• https://www.coindesk.com/markets/2021/03/15/nigerians-turn-to-stablecoins-for-protection-against-inflation/
• https://techcrunch.com/2022/02/23/cryptocurrency-payments-key-to-lowering-cross-border-remittance-charges-and-boosting-microwork-uptake-in-africa-study-shows/
• https://africa.businessinsider.com/local/markets/7-worst-performing-african-currencies-in-2022/s5kqzk1