Bitcoin finally surpassed the $50,000 mark after several weeks.
The surge in Bitcoin valuation is the first time in recent months that it will rise without a push from a prominent investor or company.
However, Bitcoin was unable to maintain the surge, as it dropped from $50,584.85, and currently trade for $48,657.21, according to Coindesk a cryptocurrency trading platform.
The lowest Bitcoin price within 24 hours is $47,088.84.
Nigerias understands that the surge in Bitcoin price is the first indication of market acceptance and expanding reach across various countries.
Despite the Central Bank of Nigeria (CBN) restrictions on cryptocurrency transactions in the country, Nigerians are still trading heavily in Bitcoin.
Bitcoin is the most popular cryptocurrency among the digital assets that have changed the way individuals and companies transact. It has made trading possible without a CBN-backed currency.