Top 10 African Countries with the Most Bitcoin Holdings in 2025

In Summary

• Several African nations, including Mauritius, South Africa, and Nigeria, have seen significant increases in Bitcoin ownership, driven by factors such as youthful populations, economic challenges, and increasing mobile and internet access.
• Mauritius is pioneering Bitcoin as a reserve asset to counter foreign exchange shortages, while South Africa's regulatory environment fosters a thriving crypto market, and Nigeria benefits from its young, tech-savvy population embracing digital currencies.
• Bitcoin's adoption extends beyond investment, becoming a practical tool for cross-border payments, inflation hedging, and financial inclusion.

Deep Dive!!

In 2025, Africa has emerged as a dynamic hub for cryptocurrency adoption, with Bitcoin leading the charge. The continent's unique economic challenges, coupled with a young, tech-savvy population, have fostered an environment ripe for digital financial solutions. African nations are increasingly turning to Bitcoin as a means to enhance financial inclusion, hedge against inflation, and facilitate cross-border transactions. This surge in adoption is not merely a trend but a reflection of a deeper, structural shift in how Africans engage with money and value.

Mauritius stands out as a leader in this movement, with the government exploring Bitcoin as a strategic reserve asset to counter foreign exchange shortages and hedge against inflation. While the exact amount of Bitcoin held is not publicly disclosed, the country's proactive stance in integrating cryptocurrency into its financial strategy positions it at the forefront of Bitcoin adoption in Africa. Following closely are South Africa and Nigeria, both with significant numbers of Bitcoin holders. South Africa's robust cryptocurrency ecosystem, supported by a growing number of crypto-friendly businesses and an accommodating regulatory environment, has contributed to its widespread adoption. Nigeria, with its youthful, tech-savvy population and increasing number of mobile users, has seen a surge in Bitcoin adoption, positioning it as a leading country in Africa for Bitcoin holdings.

The rise of Bitcoin in Africa is also indicative of a broader trend towards decentralized finance. In countries like Kenya, Egypt, and Tanzania, Bitcoin is being utilized not just as an investment vehicle but as a practical tool for everyday transactions. Initiatives such as Bitcoin payments in Nairobi's Kibera slum highlight the potential of digital currencies to provide financial services to underserved populations. These developments underscore the transformative power of cryptocurrencies in reshaping financial landscapes across the continent.

As we delve into the top 10 African countries with the most Bitcoin holdings in 2025, it becomes evident that the continent is not just adopting cryptocurrency but is actively integrating it into its economic fabric. This integration is paving the way for a more inclusive and resilient financial future, where digital assets play a pivotal role in driving economic growth and development.

10. Ghana

Ghana has emerged as a significant player in Africa's cryptocurrency landscape, with Bitcoin adoption gaining momentum among its population. As of mid-2025, approximately 17.3% of Ghanaian adults, equating to over 3 million individuals, own cryptocurrency, including Bitcoin. This surge in adoption is attributed to the country's robust mobile money infrastructure, which has facilitated easier access to digital assets. In response to this growing interest, the Bank of Ghana is set to introduce a comprehensive regulatory framework for cryptocurrency by September 2025, aiming to license platforms and integrate crypto into the formal financial system.

The government's proactive stance towards fintech innovations has played a pivotal role in fostering Bitcoin adoption. The Bank of Ghana's 2024 FinTech Sector Report indicates a significant increase in mobile money active customers, reaching 23.5 million by the end of 2024. This growth underscores the widespread use of mobile money services, which serve as a gateway for many Ghanaians to engage with cryptocurrencies. Furthermore, the government's efforts to streamline digital financial services have enhanced the accessibility and usability of Bitcoin for the average Ghanaian.

The rise in Bitcoin adoption has also been accompanied by a notable increase in cryptocurrency transactions. Between July 2023 and June 2024, Ghana recorded approximately $3 billion in crypto transactions, accounting for a significant portion of Sub-Saharan Africa's total crypto transaction volume. This uptick reflects the growing confidence in digital assets as viable alternatives to traditional financial systems.

Ghana's embrace of Bitcoin and other cryptocurrencies signifies a transformative shift in its financial ecosystem. The combination of a supportive regulatory environment, widespread mobile money usage, and increasing public interest positions Ghana as a leading nation in Africa's cryptocurrency adoption journey. As the government continues to implement measures to regulate and promote digital assets, Ghana is poised to further solidify its role in the global digital economy.

9. Uganda

Uganda's cryptocurrency landscape is experiencing significant growth, driven by the country's expanding mobile money infrastructure and increasing internet access. While precise data on Bitcoin ownership is limited, the broader adoption of digital financial services indicates a rising interest in cryptocurrencies. As of 2024, Uganda's mobile money market was valued at approximately $133 billion, with projections to reach $1.15 trillion by 2033, reflecting a compound annual growth rate of 25.73% from 2025 to 2033. This growth is underpinned by the increasing number of mobile connections, which represented 67.7% of the total population in January 2024, marking a 6.9% increase from the previous year.

The surge in mobile money usage is complemented by a steady rise in internet penetration. As of January 2025, there were 14.2 million internet users in Uganda, equating to an internet penetration rate of 28.0%. This increase in internet access facilitates the adoption of digital financial services, including cryptocurrencies. Moreover, the government's initiatives to improve digital infrastructure and literacy are likely to further support the growth of the cryptocurrency ecosystem.

In response to the growing interest in digital currencies, some Ugandans, particularly refugees without national identification cards, have turned to Bitcoin as an alternative means of financial inclusion. These individuals utilize Bitcoin for transactions, overcoming barriers posed by traditional banking systems that require identification. This trend underscores the potential of cryptocurrencies to provide financial services to underserved populations.

While specific data on Bitcoin ownership in Uganda is scarce, the country's advancements in mobile money adoption and internet access suggest a burgeoning interest in cryptocurrencies. The government's supportive stance towards digital financial services and the innovative use of Bitcoin by marginalized groups highlight the transformative potential of cryptocurrencies in enhancing financial inclusion in Uganda.

8. Ethiopia

Ethiopia's engagement with Bitcoin has been marked by significant developments in both adoption and regulation, positioning it as a noteworthy player in Africa's cryptocurrency landscape. As of 2025, approximately 2.3 million Ethiopians, representing 1.76% of the population, own Bitcoin, reflecting a growing interest in digital assets despite regulatory challenges. This surge in adoption is largely attributed to the country's expanding mobile internet infrastructure and the increasing use of mobile money platforms, which have facilitated access to cryptocurrencies.

The Ethiopian government's approach to cryptocurrency has evolved over time. Initially, in 2022, the National Bank of Ethiopia imposed a ban on crypto transactions, citing concerns over financial stability and potential misuse. However, by 2025, there has been a noticeable shift towards a more open stance. The government has lifted the ban on Bitcoin mining, leveraging the surplus electricity generated by the Grand Ethiopian Renaissance Dam (GERD), Africa's largest hydroelectric project, to power mining operations. This strategic move aims to harness the country's renewable energy resources to benefit from the global cryptocurrency market.

Despite the government's efforts to promote Bitcoin mining, challenges persist. In August 2025, Ethiopian Electric Power (EEP) announced a suspension of new electricity supply permits to crypto and data-mining companies. This decision was driven by concerns that the sector could absorb a significant portion of the nation's electricity supply, potentially compromising essential services. The EEP's move underscores the need for a balanced approach to cryptocurrency mining that considers both economic opportunities and the country's energy requirements.

Looking ahead, Ethiopia's trajectory in the cryptocurrency space appears promising. The increasing number of internet users, coupled with the government's initiatives to integrate digital financial services, suggests that Bitcoin adoption will continue to rise. However, for Ethiopia to fully capitalize on the potential of cryptocurrencies, it will be crucial to establish a clear regulatory framework that addresses the challenges associated with mining and trading. Such a framework would not only foster innovation but also ensure that the benefits of cryptocurrency adoption are equitably distributed across the population.

7. Morocco

As of 2025, Morocco stands as one of Africa's leading nations in Bitcoin adoption, with approximately 1.9 million individuals, representing 5.1% of the population, holding Bitcoin. This surge in cryptocurrency ownership reflects a broader trend of increasing digital financial engagement among Moroccans. Despite the government's initial skepticism and a 2017 nationwide ban on cryptocurrency transactions, the public's interest in digital assets has persisted, often operating in informal or underground channels.

The Moroccan government's stance on cryptocurrencies has evolved over time. In late 2024, the central bank, Bank Al-Maghrib, announced the preparation of a draft law to regulate crypto assets, signaling a shift towards formalizing the sector. This move aims to provide a legal framework for cryptocurrency activities, balancing innovation with regulatory oversight. Additionally, the central bank is exploring the potential of a central bank digital currency (CBDC) for peer-to-peer and cross-border payments, collaborating with international institutions like the IMF and the World Bank.

Morocco's digital infrastructure plays a crucial role in facilitating cryptocurrency adoption. With an internet penetration rate of approximately 90.7% as of January 2024, a significant portion of the population has access to online platforms where cryptocurrencies can be traded and utilized. This widespread internet access, coupled with increasing mobile connectivity, has enabled more Moroccans to engage with digital financial services, including cryptocurrencies.

Looking ahead, Morocco's cryptocurrency market is projected to reach $278.7 million by 2025, with an annual growth rate of 4.92%. The anticipated legalization and regulation of cryptocurrencies are expected to further bolster this growth, attracting both local and international investments. As the country continues to navigate the complexities of integrating digital currencies into its financial system, Morocco's experience may serve as a model for other nations in the region considering similar transitions.

6. Tanzania

Tanzania has emerged as a notable player in Africa's cryptocurrency landscape, with approximately 1.6 million individuals, representing 2.43% of the population, owning Bitcoin as of 2025. This growing interest in digital assets is largely attributed to the country's expanding mobile money infrastructure and increasing internet penetration. The mobile money market in Tanzania was valued at USD 80 billion in 2024, with projections to reach USD 221 billion by 2033, reflecting a compound annual growth rate of 12% during 2025–2033. This widespread adoption of mobile money services has facilitated easier access to cryptocurrencies for many Tanzanians.

Despite the government's cautious approach to cryptocurrency regulation, public enthusiasm for digital assets remains strong. In June 2024, Tanzania announced a 3% withholding tax on digital asset transactions, aiming to formalize the sector and generate revenue. However, the Bank of Tanzania has not recognized cryptocurrencies as legal tender, and the regulatory framework remains under development. This lack of clear regulation has led to a legal gray area, with some businesses and individuals engaging in cryptocurrency activities without explicit legal guidance.

The Tanzanian judiciary has also played a role in shaping the country's approach to cryptocurrencies. In a landmark case, the court ruled that engaging in electronic transactions using cryptocurrencies is not illegal, provided they meet the general principles of contract law. This decision has legitimized the use of cryptocurrencies in various commercial activities and highlighted the need for a formal regulatory framework.

Looking ahead, Tanzania's trajectory in the cryptocurrency space appears promising. The increasing number of internet users, coupled with the government's initiatives to integrate digital financial services, suggests that Bitcoin adoption will continue to rise. However, for Tanzania to fully capitalize on the potential of cryptocurrencies, it will be crucial to establish a clear regulatory framework that addresses the challenges associated with digital asset transactions. Such a framework would not only foster innovation but also ensure that the benefits of cryptocurrency adoption are equitably distributed across the population.

5. Egypt

As of 2025, Egypt has emerged as a significant player in Africa's cryptocurrency landscape, with approximately 3.4 million individuals, representing 2.99% of the population, owning Bitcoin. This surge in adoption is largely attributed to the country's expanding digital infrastructure and the increasing demand for alternative financial solutions amid economic challenges.

Despite the Central Bank of Egypt's restrictive stance on cryptocurrencies, which prohibits unauthorized trading and promotion, the public's interest in digital assets has persisted. The government's cautious approach, including the imposition of a 3% withholding tax on digital asset transactions in June 2024, aims to formalize the sector and generate revenue. However, the lack of a clear regulatory framework has led to a complex legal environment for cryptocurrency activities.

The increasing internet penetration in Egypt has played a pivotal role in facilitating cryptocurrency adoption. As of January 2025, there were 96.3 million internet users in Egypt, equating to an internet penetration rate of 81.9% of the total population. This widespread internet access enables more Egyptians to engage with digital financial services, including cryptocurrencies.

In the near future, Egypt's cryptocurrency market is projected to reach $690 million in 2025, with an average revenue per user (ARPU) of $61.1. The anticipated legalization and regulation of cryptocurrencies are expected to further bolster this growth, attracting both local and international investments. As the country continues to navigate the complexities of integrating digital currencies into its financial system, Egypt's experience may serve as a model for other nations in the region considering similar transitions.

4. Kenya

Kenya has emerged as a leader in cryptocurrency adoption in Africa, with approximately 2.8 million individuals, representing 5.05% of the population, owning Bitcoin as of 2025. This surge is largely attributed to Kenya's innovative fintech ecosystem, particularly the widespread use of mobile money platforms like M-PESA. M-PESA, launched in 2007, has revolutionized financial inclusion by enabling users to send and receive money, pay bills, and access financial services via mobile phones. In 2023, M-PESA processed over 20 billion transactions, accounting for 59% of Kenya's GDP. This extensive mobile money infrastructure has paved the way for the integration of cryptocurrencies into everyday financial transactions.

The integration of Bitcoin into Kenya's financial landscape has been facilitated by platforms that allow users to purchase cryptocurrencies using M-PESA. For instance, Bitpapa enables users to buy Bitcoin directly through M-PESA, providing a seamless experience for those familiar with mobile money services. Additionally, peer-to-peer (P2P) platforms like Paxful have incorporated M-PESA as a payment method, further enhancing accessibility for Kenyan users. These developments have contributed to the growing adoption of Bitcoin among Kenyans, particularly in urban areas where mobile phone penetration is high.

Despite the government's cautious approach to cryptocurrency regulation, public enthusiasm for digital assets remains strong. In December 2024, the National Treasury unveiled a Draft National Policy on Virtual Assets and Virtual Asset Service Providers, signaling a move towards formalizing the sector. This policy aims to provide a legislative framework for the regulation of crypto assets, with the Capital Markets Authority (CMA) designated as the regulator of cryptocurrencies. The proposed framework seeks to balance innovation with compliance, promoting transparency and investor protection within the crypto space.

Looking ahead, Kenya's cryptocurrency market is projected to continue its growth trajectory. The anticipated legalization and regulation of cryptocurrencies are expected to attract both local and international investments, further integrating digital assets into the mainstream economy. As the country continues to navigate the complexities of integrating digital currencies into its financial system, Kenya's experience may serve as a model for other nations in the region considering similar transitions.

3. Nigeria

Nigeria stands as a formidable force in Africa's cryptocurrency landscape, with approximately 13.3 million individuals, about 5.82% of the population, owning Bitcoin as of 2025. This positions Nigeria as a global leader in crypto adoption, second only to India. The nation's youthful, tech-savvy population, combined with economic challenges such as inflation and currency instability, has propelled the widespread use of digital assets. Between July 2024 and June 2025, Nigeria processed over $92 billion in on-chain cryptocurrency transactions, underscoring its dominance in Sub-Saharan Africa.

The surge in Bitcoin adoption is largely driven by Nigeria's robust mobile infrastructure and the proliferation of peer-to-peer (P2P) platforms. Platforms like Paxful and Binance P2P have become integral to the Nigerian crypto ecosystem, enabling users to buy and sell Bitcoin using local payment methods such as bank transfers and mobile money. This accessibility has democratized cryptocurrency ownership, allowing even individuals in remote areas to participate in the digital economy.

Despite the Central Bank of Nigeria's previous restrictions on cryptocurrency transactions, the government has shown signs of regulatory openness. In 2024, Nigeria's Securities and Exchange Commission (SEC) introduced the cNGN, a stablecoin pegged to the Nigerian naira, as part of a broader effort to integrate digital assets into the formal financial system. This move indicates a shift towards regulatory clarity, aiming to balance innovation with oversight.

Looking ahead, Nigeria's crypto market is poised for continued growth. The increasing adoption of digital currencies is expected to enhance financial inclusion, particularly among the unbanked population. However, challenges remain, including the need for comprehensive regulatory frameworks and measures to combat cybercrime. Addressing these issues will be crucial for sustaining the momentum of cryptocurrency adoption and ensuring its benefits are equitably distributed across the nation.

2. South Africa

South Africa has emerged as a prominent leader in Bitcoin adoption within Africa, with approximately 6 million individuals, representing 9.56% of the population, owning Bitcoin as of 2025. This positions South Africa among the top countries globally in terms of cryptocurrency ownership. The nation's robust financial infrastructure, coupled with a progressive regulatory environment, has facilitated the widespread acceptance and integration of digital assets into the mainstream economy.

A significant driver of this adoption is the country's innovative fintech sector, exemplified by platforms like M-PESA and VALR. M-PESA, a mobile money service, has revolutionized financial inclusion by enabling users to perform transactions via mobile phones, even in remote areas. VALR, South Africa's largest cryptocurrency exchange, has further bolstered this ecosystem by providing a secure platform for buying, selling, and storing cryptocurrencies. Founded in 2018, VALR has expanded its services to over 600,000 retail and 1,000 institutional customers, with plans for global expansion.

The regulatory landscape in South Africa has also played a pivotal role in fostering a conducive environment for cryptocurrency adoption. The Financial Sector Conduct Authority (FSCA) has granted licenses to several crypto asset service providers, ensuring compliance with financial regulations and enhancing investor confidence. This regulatory clarity has attracted both local and international investments, positioning South Africa as a crypto hub in Africa.

Looking ahead, South Africa's cryptocurrency market is poised for continued growth. The increasing adoption of digital currencies is expected to drive financial inclusion, particularly among the unbanked population. However, challenges such as cybersecurity threats and the need for continuous regulatory updates remain. Addressing these issues will be crucial for sustaining the momentum of cryptocurrency adoption and ensuring its benefits are equitably distributed across the nation.

1. Mauritius

Mauritius has emerged as a frontrunner in Africa's cryptocurrency landscape, with approximately 6.5% of its population owning Bitcoin as of 2025. This positions the island nation ahead of many larger economies in Bitcoin adoption. The government's proactive approach to integrating digital assets into its financial strategy has been instrumental in this growth. Mauritius is exploring Bitcoin as a strategic reserve asset to counter foreign exchange shortages and hedge against inflation, aiming to enhance its financial sovereignty and reduce dependence on traditional fiat currencies.

The country's commitment to blockchain and fintech innovation is evident in its regulatory framework, which encourages investment in digital assets while mitigating associated risks. Mauritius has developed a legal infrastructure that supports the growth of the cryptocurrency sector, attracting international investors and positioning itself as a hub for blockchain technology in Africa. This environment has fostered the establishment of crypto-friendly businesses and facilitated the integration of cryptocurrencies into various sectors of the economy.

In December 2025, Mauritius hosted the Africa Bitcoin Community (ABC) conference, underscoring its role as a leader in Bitcoin adoption on the continent. The event brought together innovators, brands, and changemakers to discuss the future of Bitcoin in Africa, highlighting Mauritius' commitment to advancing the cryptocurrency ecosystem. Such initiatives not only promote the adoption of digital currencies but also position Mauritius as a key player in the global cryptocurrency arena.

Looking ahead, Mauritius' strategic exploration of Bitcoin as a reserve asset could serve as a model for other nations seeking to diversify their financial portfolios and enhance economic resilience. By carefully managing the risks and leveraging the benefits of Bitcoin, Mauritius aims to strengthen its financial infrastructure and maintain its competitive edge in the rapidly evolving digital economy.

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