Fact Check: 32% Of Nigerians Don’t Own Bitcoin As Twitter CEO Claimed

Claim: Jack Dorsey, the chief government officer (CEO) of Twitter, the microblogging platform, just lately tweeted that 32 % of Nigerians personal Bitcoin.

Verdict: This piece of data is fake. Jack quoted the results of a web-based ballot which solely surveyed about 1000 — 4000 respondents from Nigeria which can’t be used for generalisation.

Fact Check: 32% Of Nigerians Don't Own Bitcoin As Twitter CEO Claimed 2

Full Story

On August 14, Dorsey took to his deal with and wrote: “Wow: ‘32 percent of Nigerians own Bitcoin, the highest percentage in the world…” with a Nigerian flag attached.

Screenshot of Dorsey’s quote had been lifted from a report by an author Samantha Messing on Medium. The link to the post was also attached to the post.

The author, in an obvious rebuttal to the stance of United States Senator to Massachusetts, Elizabeth Warren, on the new currency, wrote a letter to the Senator titled, ‘Why Progressives Should Love Bitcoin: An Open Letter to Senator Elizabeth Warren.’

Messing had highlighted situations the place Warren expressed issues over the perceived unlawfulness of the brand new forex.

Warren, a longtime bitcoin sceptic, had as soon as mentioned cryptocurrency is powered by a “shadowy faceless group of super coders.”

She had additionally described it as a “scam,” a “bogus private digital money,” “highly opaque,” and constructed to “assist criminals.

Warren recently urged Treasury Secretary Janet Yellen to identify and remedy risks posed by cryptocurrencies and to craft a “comprehensive and coordinated” framework via which federal companies can frequently regulate digital cash.

Messing argued that quite than Warren’s notion, Bitcoin is probably the most democratised type of cash ever created, highlighting the advantages corresponding to a set and predetermined financial coverage; a decentralised, clear, democratic community.

While additional buttressing her argument, she quoted the result of a survey by Statista, a well-liked database firm saying, “…32 percent of Nigerians own Bitcoin, the highest percentage in the world…”

Jack had clearly lifted this a part of the article and shared it on his platform producing over 4,000 retweets and about 19, 000 likes as of the time of this report.

The Twitter CEO has remained constant in his assist for the Bitcoin revolution amongst Nigerians and was one of many campaigners for the usage of cryptocurrency throughout the #EndSars protests.

Verdict

Dubawa ran a key phrase search on Google and came upon the declare that 32 % of Nigerians use bitcoin had been misquoted from the result of a survey by Statista, a web-based portal that gives information on the worldwide digital economic system, industrial sectors, shopper markets, public opinion, media, demography, macroeconomic tendencies amongst others.

The Statista Global Consumer Survey 2020 chosen respondents from 74 international locations and Nigerian respondents had been the probably to say they used or owned cryptocurrency.

Fact Check: 32% Of Nigerians Don't Own Bitcoin As Twitter CEO Claimed 3

Nigeria ranked 32% greater than some residents from international locations even inside the G7 with the United States, Germany and Japan with 6%, 5% and 4% respectively.

However, it was explicitly said that respondents from every nation had been nearly 1,000 to 4,000.

Meanwhile, Triple A, a Singapore monetary firm, famous that there are over 300 million crypto customers worldwide with 13 million of them in Nigeria representing simply 6.31% of the over 200 million inhabitants of the nation.

Researchers can generalise in the event that they meet up with a sure variety of the pattern dimension.

According to Worldometer, Nigeria presently has an estimated inhabitants of over 212,000,000 folks. This signifies that utilizing a meagre 1000 — 4000 respondents from Nigeria can’t be generalised.

Statista may need components thought-about earlier than arriving at a pattern dimension however this isn’t sufficient to say 32 % of Nigerians personal Bitcoin. This quantity is likely to be lesser or much more.

This report has been quoted a number of instances up to now by totally different media homes together with BBC Africa, Coin Desk and right here. These reviews have adequately confirmed that the determine represented the respondents of the survey, not like Messing whom Jack quoted.

Conclusion

It can’t be authoritatively mentioned that 32 % of Nigerians personal Bitcoin. Rather, 32 % of Nigerians who partook within the survey performed by Statista personal or use Bitcoin.

The researcher produced this fact-check per the Dubawa 2021 Kwame KariKari Fellowship partnership with SaharaReporters to facilitate the ethos of “truth” in journalism and improve media literacy within the nation.

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