Stafford Masie, Executive Chairman of Africa Bitcoin, stated on the Coin Stories podcast that in some parts of Africa, Bitcoin is actually used as everyday currency, not just as an investment tool — local merchants “don’t accept dollars, but accept Sats,” with inflation reaching 4% to 5% every afternoon.
Masie’s Core Argument: Africa’s Bitcoin Framework Is Completely Different from the West
During an interview with Coin Stories host Natalie Brunell, Masie directly challenged the Western mainstream definition of Bitcoin. In developed markets, investors emphasize Bitcoin as a hedge against inflation and a long-term store of value; but in some parts of Africa, Bitcoin is a functional currency used for daily commercial transactions.
He explained the issue with inflation differences: “You talk about currency devaluation, which is 4% to 5% per year — but we’re talking about 4% to 5% devaluation in an afternoon.” In this context, he describes Bitcoin as “primitive capital” — a financial foundation for individuals and businesses to build wealth: “In Africa, we suddenly have something that cannot be devalued. It’s immutable, decentralized, and cannot be confiscated. For Africans, this is a matter of life and death.”
Masie also emphasized that over a quarter of Africa’s population is under 20 years old, and the younger generation is bypassing traditional financial systems to adopt new technologies like Bitcoin and AI — similar to how mobile communication technology rapidly spread across Africa years ago.
On-Chain Data Validates: Structural Growth in Africa’s Crypto Adoption
Chainalysis data confirms Masie’s description. From July 2024 to June 2025, on-chain transaction volume in Sub-Saharan Africa exceeded $205 billion, a 52% increase year-over-year, making it the third-fastest growing region globally; in March 2025, monthly transaction volume surged to nearly $25 billion, mainly due to Nigeria’s currency devaluation leading to increased activity.
Former UN Deputy Secretary-General Vera Songwe pointed out at the World Economic Forum in January this year that remittances in many African economies have become more important than foreign aid, but traditional transfer fees cost about $6 per $100 sent. In environments where over ten countries have inflation rates above 20% and about 650 million people lack bank accounts, stablecoins and Bitcoin are playing dual roles as payment channels and stores of value.
Key Data on Africa’s Crypto Adoption
- On-Chain Transaction Volume: Sub-Saharan Africa grew 52% from July 2024 to June 2025, surpassing $205 billion
- Global Growth Rank: Third fastest-growing crypto region worldwide; in March 2025, monthly volume nearly $25 billion
- Retail-Oriented Features: Transactions under $10,000 account for over 8% (above the global average of 6%)
- Remittance Cost Gap: Traditional transfers cost about $6 per $100; crypto tools significantly reduce costs
- Financial Inclusion Gap: Estimated 650 million people without bank accounts, creating a large market for crypto tools
FAQs
Why do Africans have vastly different needs for Bitcoin compared to Western investors?
Western investors mainly see Bitcoin as a long-term store of value to hedge against inflation; in some parts of Africa, hyperinflation and currency devaluation happening daily or even hourly make Bitcoin a more stable medium of exchange, directly used for commercial transactions, filling the gap left by malfunctioning fiat currencies.
What is Sats, and why is it more commonly used than Bitcoin in African transactions?
Sats (Satoshi) are the smallest unit of Bitcoin, with 1 Bitcoin equal to 100 million Sats. Because a full Bitcoin is expensive, using Sats is more practical for everyday small transactions, helping Bitcoin circulate as a real currency in low-income markets, similar to using cents instead of dollars for small purchases.
What are the main drivers behind crypto adoption in Africa?
Key drivers include high inflation rates (over 20% in some countries), expensive traditional remittances (about $6 per $100), a large unbanked population (around 650 million), and a young, tech-savvy demographic — over a quarter of Africa’s population is under 20. These factors collectively make Africa one of the most dynamic regions for crypto adoption globally.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin whales and sharks posted daily losses exceeding $300 million in Q1, with cumulative losses of $30.9 billion within the year
According to Glassnode data, in the first quarter of 2023, the average daily losses for “sharks” holding between 100 and 1,000 BTC and “giant whales” holding between 1,000 and 10,000 BTC were 188.5 million and $147.5 million, respectively, totaling approximately $337 million. Meanwhile, the year-to-date cumulative losses have already reached $30.9 billion, approaching the level of the 2022 bear market. Long-term holders’ average daily losses are still around $200 million, with the market affected by macro risks and weakening confidence.
GateNews1h ago
The IMF urges the Bank of Japan to keep raising interest rates, saying that the Middle East war poses major new risks
The International Monetary Fund recommends that the Bank of Japan continue raising interest rates, despite new risks to Japan’s economy stemming from the Middle East war. Rising oil prices and yen depreciation have intensified inflation pressures. The IMF expects inflation to return to the 2% target in 2027 and emphasizes the importance of a flexible interest-rate policy.
GateNews2h ago
Trump asks Congress for $1.5 trillion defense budget, the largest military spending request in US history
The Trump administration submitted a $1.5 trillion defense spending request to Congress on April 3 --- the largest military budget proposal in U.S. history --- pairing record military outlays with cuts to domestic programs in a fiscal combination that signals sustained inflation pressure and a
Cryptonews13h ago
EY-Parthenon Economist: The U.S. Labor Market Is Fragile, With a 40% Probability of a Recession
Despite a strong rebound in U.S. March employment data, EY-Parthenon economist Lydia Boussour says the labor market remains fragile, with companies’ hiring intentions declining, and expects the market to be frozen in 2026. The unemployment rate could rise to 4.7%, and the probability of an economic recession is 40%.
GateNews18h ago
Capiatal Economics: The March nonfarm payrolls rebound was driven by the end of the medical strike and weather-related factors, while AI continued to suppress hiring in some industries
CPI Macro analyst Stephen Brown discusses the March nonfarm payrolls employment report, pointing out that a strike in the healthcare industry has ended and that weather factors have hindered hiring, helping to drive an employment rebound. However, rising oil prices may affect near-term demand; falling consumer purchasing power will curb hiring. Employment is declining in areas such as information and financial services, and artificial intelligence is also suppressing hiring in some industries.
GateNews19h ago
Trump’s budget proposal is expected to show actual GDP growth of 3.1% for fiscal year 2027
Gate News updates, April 3. The Trump administration’s budget proposal is expected to have the U.S. real GDP grow by 3.1% in fiscal year 2027.
GateNews19h ago
