Turkish Residents Flock to Bitcoin During Military Coup
The Turkish government is currently rounding up members of the groups that launched a military coup in recent days. During the coup, citizens ran to their banks and local ATMs to get their wealth out of the system as Turkey’s currency dropped significantly in value. Bitcoin Supporters Tell Turkish Citizens to Turn to Cryptocurrency. As usual, many....
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The Turkish Lira has fallen at least 5 per cent as reported by Reuters. This is a 3 week low against the US dollar. At the time of writing Turkish Lira was seen trading at 3.0300 Lira against the greenback. Coup Chaos. Earlier Turkish Prime Minister Binali Yildirim announced that the situation was under control and around 130 people have been put under arrest. There are reports of helicopters having been shot down over the Turkish Capital Ankara according to the BBC. The British Broadcaster also reports that the whereabouts of the Turkish military chief are currently not known. Meanwhile....
Was bitcoin’s price spike yesterday in response to the attempted Turkish military coup? Current events continue to make the case for bitcoin as an investment, according to Orange Peel Investments, an investment firm that describes itself as “long” on bitcoin. The company contributed an opinion about bitcoin’s role as an investment in Seeking Alpha. Turkish citizens, alarmed by an attempted military coup, began withdrawing cash from ATMs and banks, not knowing what the future held for their financial security. The same thing happened in recent years when uncertainties afflicted Cyprus and....
As of right now, it appears one Bitcoin is worth close to 2722 Turkish Lira. Economies all over the world are crumbling and rocking to their core. Turkey, a country plagued by censorship, limited internet access, and other crimes, sees the value of the Lira drop a low. In fact, the Turkish Lira reached a new low for the past five years. At the same time, the demand for Bitcoin seems to be going up every so slightly. An odd coincidence, or a mind shift taking place? Things are not looking all that great for the Turkish Lira right now. Although the currency has lost a lot of value over the....
The horrible situation in Turkey is sending more shockwaves to the fragile global financial ecosystem. After news had broken about an attempted military coup in the country, it didn’t take long for the Turkish lira to depreciate. Over the course of fewer than 24 hours, the currency lost 5% of its value against the US Dollar. All the more reason to focus on Bitcoin, rather than volatile fiat currencies? Turkish Lira Is Plunging. Any situation in life will have an impact on the global economy at this stage, as everything is so well-connected it becomes scary to think about it. Events in....
Turkish residents continuously maintain a bullish stance on crypto transactions despite the bear markets. Ismail H. Polat, a media lecturer at Kadir Has University in Istanbul, said the driving factor is the high inflation. Recent reports show the Turkish crypto industry is working to build the crypto ecosystem amid the bear market. The Turkish blockchain […]