Bitcoin: The Irresistible Rise of the Cryptocurrency

Between July 2020 and June 2021 Africans held and traded in US$105.6 billion worth of crypto assets – especially Bitcoin – a growth of 1,200% in value over the previous year. Indeed, Africa – with countries like Nigeria and Kenya leading – saw the most explosive growth in peer-to-peer (P2P) payment platforms in terms of transaction volume across all the regions of the world. Much of the Bitcoin activity in Kenya and the rest of Africa has been speculative in a highly volatile commodity. Charles Mutiso breaks down what crypto-currencies like Bitcoin are and how they work.