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June 05, 2018, 09:13:21 PM |
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When inflation is that rampant in your country, there is virtually no point in holding cash. It's funny that some people call bitcoin volatile, when there are clearly fiat counterparts that are absolutely atrocious at keeping their value over even short spans of time.
Obviously, it's not as bad as other countries such as Venezuela yet, but Turkey's economy really isn't doing well, and that is reflected through the ever depreciating value of their fiat currency.
I believe that under these circumstances, bitcoin can be extremely useful as a way to store wealth. Just like we see in venezuela, which has seen a surge in bitcoin and crypto activity, Turkish citizens may want to start hedging against their fiat currency by investing in a decentralized and proven store of value, which bitcoin seems perfect for the purpose.
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