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The Drivers of Bitcoin Adoption in Nigeria: A Thematic Analysis of Public Discourse

Heynhold, Fynn LU (2025) EOSK12 20251
Department of Economic History
Abstract
This thesis examines how public discourse in Nigeria reflects the drivers behind Bitcoin adoption. Using thematic analysis of Nigerian newspaper articles from 2020 to 2025, the study identifies three key themes: economic instability, political resistance, and financial inclusion. Through the lens of Austrian economic theory, especially Hayek’s idea of currency competition, Bitcoin adoption is interpreted as a rational response to systemic challenges. The findings provide valuable insights into the appeal of decentralized currencies in fragile economies, offering guidance for the development of suitable policies and regulatory frameworks.
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author
Heynhold, Fynn LU
supervisor
organization
course
EOSK12 20251
year
type
M2 - Bachelor Degree
subject
keywords
Nigeria, Bitcoin, Public Discourse, Austrian Economics, Thematic Analysis
language
English
id
9201605
date added to LUP
2025-06-19 12:44:36
date last changed
2025-06-23 11:28:05
@misc{9201605,
  abstract     = {{This thesis examines how public discourse in Nigeria reflects the drivers behind Bitcoin adoption. Using thematic analysis of Nigerian newspaper articles from 2020 to 2025, the study identifies three key themes: economic instability, political resistance, and financial inclusion. Through the lens of Austrian economic theory, especially Hayek’s idea of currency competition, Bitcoin adoption is interpreted as a rational response to systemic challenges. The findings provide valuable insights into the appeal of decentralized currencies in fragile economies, offering guidance for the development of suitable policies and regulatory frameworks.}},
  author       = {{Heynhold, Fynn}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{The Drivers of Bitcoin Adoption in Nigeria: A Thematic Analysis of Public Discourse}},
  year         = {{2025}},
}