• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Technology Cryptocurrency

Bitcoin market value surpasses GDP of Africa’s biggest economy

5 years ago
in Cryptocurrency, Technology
1 min read
0 0
0
Bitcoin - norvanreports

Bitcoin - norvanreports

108
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Market value of popular cryptocurrency – Bitcoin – has exceeded the Gross Domestic Product (GDP) of Nigeria, Africa’s biggest economy.

Bitcoin with a current market value of $468 billion, outmatches Nigeria with a GDP of $448 billion by $20 billion.

The digital currency aside outmatching Nigeria, 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 and Tanzania – $63.2 billion.

The flagship cryptocurrency is on its record high amid strong purchases seen in institutional and accredited investors gaining more exposure to Bitcoin through the world’s biggest crypto hedge fund, Grayscale, and the CME Bitcoin futures market.

Bitcoin earlier this month broke its all-time record by going over the $20,000 mark.

The world’s most renowned cryptocurrency has seen an unprecedented increase this year, with its value witnessing a 240 percent jump since the beginning of the year.

Ever since PayPal announced in March this year about enabling its account holders to use Bitcoin, the value of the cryptocurrency has shot up from $5,000 to $25,000, marking a colossal 400 percent increase in the past eight months.

RelatedPosts

No 7% Tax on Visa and Mastercard Transactions — NorvanReports Investigation Debunks Social-Media Claims

Central Bank Introduces Legislative Reforms to Strengthen Institutional Independence

BoG to Begin Regulation of Cryptocurrencies in  December, Says Governor Asiama

Launched in 2009, Bitcoin became the first cryptocurrency to adopt a decentralised network for transactions based on block-chains. This exempts the currency from central bank policies and regulations, thereby deriving its value through a process called ‘mining.’

Bitcoins can be transferred using peer-to-peer transactions, the data record-keeping of which are done by blockchains. Bitcoin today, is responsible for about 66 percent of the global cryptocurrency market. Bitcoin, as at the time of this report was trading at $26,000.

Source: norvanreports
Tags: Africas biggest economyBitcoinGDPNigeriaPayPal
No Result
View All Result

Highlights

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

Africa Loses $5bn Annually to Forex Transactions, Says AfCFTA Secretariat

World Bank Unveils IFC2030 Strategy to Boost Private Capital and Job Creation

Domestic Debt Surpasses External Debt for the First Time in Years

Aliko Dangote Becomes the First African to hit the $30 Billion Mark

Trending

Business

New UN Forum Aims to Tackle Developing Economies’ Debt Issues

October 23, 2025

New UN Forum Aims to Tackle Developing Economies' Debt Issues A new U.N.-supported forum designed to help...

Dangote Plans 10% Sale of Refinery Shares

October 23, 2025

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

October 23, 2025

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

October 23, 2025

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

October 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.