African Hip Hop Artist Davido 'Thinking of Starting a Bitcoin Trading Company'

Popular Nigerian hip hop artist Davido has sparked off a buzz about crypto assets after tweeting about his intention to start a bitcoin trading company. With the short tweet, Davido becomes the latest African celebrity to express interest in starting a crypto business. Senegalese singer Akon is another prominent African personality to embrace crypto assets.

Before the tweet, Davido revealed in October 2020 that he had entered into a partnership with Bitsika, a Ghana-based crypto payment firm. As part of the agreement with Bitsika, Davido, who has more than 8 million followers on Twitter and Instagram, would promote the crypto firm’s app. After the start of this arrangement, reports soon emerged that the Nigerian singer’s influence had caused a massive surge of traffic to the Bitsika platform.

Similarly, crypto players in Nigeria expect Davido’s tweet to have a similar effect towards that country’s digital asset space. This is a viewpoint that is also shared by Chiagozie Iwu, the CEO of Naijacryptos, a crypto exchange. Iwu also believes “seeing the increasing bitcoin trends in Nigeria” is what probably prompted Davido to post the tweet.

Meanwhile, Iwu reveals why this tweet could be “massive for adoption,” saying:

Crypto influencers in Nigeria has max 40,000 followers while Davido has millions of followers on different channels.

According to the Naijacryptos boss, this means more people are likely to see or hear about bitcoin from “mainstream figures” than regular crypto influencers.

Meanwhile, on social media, some of the singer’s millions of followers seized on the excitement resulting from the post. Some attempted to sell their crypto credentials while others still appear to be ignorant.