How Bitcoin Is Powering Innovation Across Africa

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The latest Talking Tokens podcast 🎙️

For the Thursday Talking Tokens episode, I sat down with Abubakar Nur Khalil, CEO of Recursive Capital and board member and CEO of Btrust — the Bitcoin development organization backed by Jack Dorsey and Jay-Z. Abubakar has been at the center of Bitcoin’s growth across Africa, from launching a venture fund to distributing over $1.7 million in grants to open-source developers.

We discuss why Btrust is expanding from Africa to Latin America, the role of Bitcoin in energy, governance, and national treasuries, and why Abubakar sees Bitcoin as fundamentally different from crypto. He also breaks down what’s driving local adoption, why builders are choosing Bitcoin over web2 or AI careers, and what’s next for Bitcoin education, regulation, and electrification across the Global South.

TIMESTAMPS:
0:00 How Bitcoin is evolving in Nigeria and beyond
1:02 Who is Abubakar Nur Khalil?
2:16 Starting Recursive Capital and building a Bitcoin VC fund
4:47 Why they rebranded to focus solely on Bitcoin
5:45 The story behind Btrust and its $1.7M in grants
7:03 Why Btrust is expanding beyond Africa
9:01 Why developers want to be paid in Bitcoin
10:14 Abubakar’s Bitcoin thesis vs other crypto projects
12:07 The 3 biggest Bitcoin use cases right now
15:03 Why Bitcoin treasuries matter for African startups
16:07 How Recursive and Btrust stay separate
17:20 What surprised him most about building both orgs
20:00 Educating developers who don’t know Bitcoin careers exist
23:02 What governments are thinking about Bitcoin in 2024
28:00 Final advice: Align your principles, then act

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Money and people moves

The biggest updates regarding new hires or teams that raised capital, moved money or did a little bit of both.

1. Juventus FC’s Crypto Investor Has Turned Activist and Wants a Board Seat (Bloomberg)

2. FinTech Digital Asset Raises $135M for Its Institutional Blockchain Canton Network (Decrypt)

3. Metaplanet raises $515M to buy more bitcoin, the team announced in a notice

Talking points for the road

Crypto-focused headlines or research that caught my eye…and should catch yours, too.

1. Tether CEO Paolo Ardoino says firm ‘will become the biggest bitcoin miner’ by end of 2025 (The Block)

2. NYSE Tweaks Rule to List Trump Media's Bitcoin-Ethereum ETF (CoinDesk)

3. Why Everyone Wants Their Own Stablecoin (Bloomberg)

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Please note that this content is for informational and entertainment purposes only. Any views shared should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research. We may have a direct or indirect financial interest in content mentioned in this newsletter.