The Indicator from Planet Money Nigeria notches new highs, Magic gathers millions, and crypto climbs
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Jul 25, 2025 Nigeria surprises everyone with a 30% GDP growth thanks to updated measurements, showcasing the challenges of assessing its informal economy. Meanwhile, Bitcoin prices soar after the passage of the GENIUS Act, as personal investment stories highlight the cryptocurrency's wild nature. The discussion also stirs excitement over the intersection of crypto legislation and gaming culture, particularly with the success of Magic: The Gathering. The hosts share laughs and insights into their podcast production, blending economic discussions with light-hearted moments.
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Nigeria's GDP Revision Insight
- Nigeria's GDP is now considered 30% larger due to revised measurement methods.
- Most Nigerians work informally, making accurate economic measurement challenging but improving understanding.
Informal Work Affects GDP Accuracy
- About 90% of Nigerians work informally, complicating GDP calculation.
- Informal work contributes significantly to the economy but is often unrecorded in traditional surveys.
Crypto Market Boosted by Legislation
- Bitcoin reached a record high of around $120,000 influenced by new crypto legislation.
- The GENIUS Act allows international use of stablecoins, boosting crypto market confidence.