In that time period, the Naira price of Bitcoins has surged some 10.8 percent to N5.63 million per Bitcoin, compared to N5.08 million per Bitcoin 2 weeks ago, according to data from Quidax a Bitcoin trading exchange.
Nigeria came at top of the list of countries with the highest number of respondents that say they own or are using cryptocurrency, according to a recent report.
The survey, which was conducted by Statista, shows that countries with emerging economies like Vietnam (21%) and South Africa (17%) have more respondents who say they used or owned cryptos in 2020.
Spain (10%) is the only developed country where the percentage of respondents that own or used cryptocurrencies get to double-digit figures.
In the United States, the percentage of respondents that confirm owning or using crypto is only 7 percent.
Young protesters then marched in cities across Nigeria, under the banner #EndSARS. In response, the government announced it would ban the anti-robbery squad, which for several years human rights groups have blamed for widespread abuses, including torture and killings.
The purchase of Bitcoins is a fitting response as younger people were some of the earlier adopters of Bitcoins in the West African country and have also used the crypto-currency to evade police corruption and unauthorised searches.