Quit Blaming Crypto Investors For Naira Crash.

I checked out an article some days ago where a financial analyst who works with the government blamed the crashing value of my local fiat currency on how people where switching from storing/ investing in the local currency to cryptos. It was one of the most absurd accusations I've heard in a while and this is why.

How on earth do you blame a particular industry for how badly your currency and economy is. I think it's ridiculous to put the blame of the local currency's crash on a small set of people who seek nothing but stability and growth of their assets. For example the local currency in question has been crashing steadily for decades and this as a result of a crashing economy, mindless printing of fiat and also the crazy and increasing corruption in the country. All these were in existence before cryptos came and cryptos gained mass adoption here just about a 5 years ago.

At the moment, I don't think anyone on their right mind would decide to keep stacking cash when it's almost certain that the value of the cash they have today would have dwindled in the coming years. It is quite unfortunate that borrowing or giving loans in my local currency right now is a really bad idea, also invest in anything that has to do with the currency because that there won't be profit at the end of the day.

Well, I'm not entirely surprised about the accusations because this government is well known for directing the blame to others. They've been doing that for decades and now it's crypto since they feel it has no spokesman and since they know its decentralised.

I'm also one of those who have almost completely shifted to holding just cryptos especially stablecoins because at the end of the day, I'm transacting with the world and not just my country men and I really can't take chances especially since there's no visible improvement in the economy.