Bitcoin And Other Crypto Can Accelerate Adoption By ...
Visualizing Bitcoin Adoption Across the Globe - Bitcoinist.com
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Bitcoin Adoption Soars in Turkey Amid High Inflation
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. The dollar has gained about 33% against the lira so far this year and some analysts are predicting that it will soon hit 8.5. “The Turkish lira is getting smoked” and “will crash to new lows due to ‘unorthodox’ policies,” CNBC reported analysts explaining. “The lira’s underlying problem is the lack of credible inflation targeting by the central bank, which is bound to ultimately debase the currency,” Commerzbank analyst Tatha Ghose wrote in a note to clients last week. Bitcoin Adoption Soars in Turkey Amid High Inflation, by Mickael Mosse mickaelmosse.com The country has been suffering from high inflation and the unemployment rate is past 14%. Steve H. Hanke, Professor of Applied Economics at the Johns Hopkins University and a hyperinflation expert, said Turkey’s annual inflation rate is at 36.57% and climbing. “The lira is toast,” he tweeted Sunday. “Turkey is burning through its foreign exchange reserve like a house on fire,” the professor continued, noting that its reserves currently stand at $41.12 billion, down almost $10 billion since July. Experts attribute Turkey’s high adoption of cryptocurrencies to economic uncertainty in the region and the extremely volatile lira. Ray Youssef, CEO of global peer-to-peer (P2P) bitcoin marketplace Paxful, said Thursday: "The rising inflation of the turkish lira has been a major financial burden for turkish citizens. Bitcoin can be used to preserve wealth against instability surrounding the turkish lira." Paxful also revealed Thursday that new registrations on its platform in Turkey increased 274% over the past 12 months. The company says it is seeing “massive potential for crypto adoption” in Turkey, which is why it is expanding its footprint in the country. Paxful has formed strategic partnerships with local cryptocurrency companies: Turkish lira-backed stablecoin Bilira (TRYB) provider and cryptocurrency trading platform Cointral. “We hope that by entering into the market we will be able to ease some of the financial burdens of its citizens,” Youssef remarked. #Bitcoin #Crypto #BitcoinAdoption #Blockchain #Cryptocurrencies #Inflation
Bitcoin Adoption in Afrika? Interview mit Anita Posch über ihre Erfahrungen vor Ort. Zu den Shownotes und Links Apple Podcast Spotify Google Podcast YouTube Pocket Casts Castbox Stitcher TuneIn RSS Feed. Themen. Diesmal bin ich zu Gast bei Robin Torque, der mir Fragen zu meiner Bitcoin-Reise nach Simbabwe und Botswana stellt. “Die Menschen in Simbabwe wissen alle, dass der ... Bitcoin Adoption by Country. Bitcoin market penetration is an important part of the development of the cryptocurrency industry. There are a lot of blockchain-related projects that have aims to provide Bitcoin and cryptocurrency education and popularize their use. The mass adoption of the digital coin is in its early stages and is not being performed widely, yet. Bitcoin price is as healthy as ever, remaining over $10,000 for its longest stretch yet. Supporting that healthy price action could be an adoption measuring metric reaching an all-time high record. And with the metrics turning its trajectory upward, it could suggest that the cryptocurrency’s ... Bitcoin Adoption Is Booming in Africa – Here’s Why. by Daily Hodl Staff. September 10, 2020. in Bitcoin ADVERTISEMENT. Bitcoin (BTC) is booming in Africa as small business owners and migrant workers turn to the flagship cryptocurrency for speed and convenience in sending payments and remittances. Data from blockchain research firm Chainalysis reveals ... Bitcoin adoption, according to Glassnodes’ findings, has been consistently trending upwards for all of the cryptocurrency’s history. In fact, the analysts found that “there have been only 21 days so far in which the net entity growth was negative.”
MASSIVE Bitcoin Adoption is Coming This Week in Crypto ...
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