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26 October 2020

Bitcoin Adoption Soars in Turkey Amid High Inflation, Lira Hitting Record Low | Regulation Bitcoin News

Bitcoin Adoption Soars in Turkey Amid High Inflation, Lira Hitting Record Low | Regulation Bitcoin News


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Bitcoin Adoption Soars in Turkey Amid High Inflation, Lira Hitting Record Low.

People in Turkey are increasingly turning to bitcoin as the local currency, the Turkish lira, recently hit another record low against the dollar.

Bitcoin adoption in Turkey outshines other countries in the region.

Bitcoin adoption has been increasing in Turkey as the local currency, the Turkish lira, hit another record low Thursday, reportedly touching 7.95 to the dollar.

Experts attribute Turkey’s high adoption of cryptocurrencies to economic uncertainty in the region and the extremely volatile lira.

Besides Turkey, the countries with high adoption of cryptocurrencies in the Middle Eastern region are Iran (52nd) and Egypt (64th).

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