Total News - 8/21/2018 - Atlanta, GA The chart of the day shows Crypto penetration in a country which is feeling the effects of a deteriorating currency. Recently we reported on the situation in Venezuela, although that has been happening for a number of years. In Turkey, there recently has been a run on the Lira, with President Ergodan even begging Turks to go buy Lira in favor of Euros, US Dollars, and other foreign currency.
It should come as no surprise that Turkey and other emerging markets are filling the top, but it is also interesting to see USA at 8%. Recently executives were polled about their Enterprise blockchain plans, and about 8% of CIOs said they were either planning, considering, or already had a Blockchain project of some kind.
In previous crisis, stable currencies such as the US Dollar were the go to foreign alternative to a falling or hyperinflated domestic currency. It will be interesting to see the reaction if any of US regulators on Crypto Currency insofar as to defend the role of the US Dollar as the supreme accounting currency and reserve currency of the world.
https://portal.totalcryptos.com/news/turks-gobbling-up-cryptoTurkey, Venezuela, Cyprus - and India, Argentina etc - are all reasons why everyone should own some crypto (and probably precious metals too). When the socialists, communists, fascists, or other authoritarians/collectivists come to seize your wealth, it is good to have some insurance.
Pleas like in Turkey are a start, then capital controls etc and at that point it becomes much more expensive to protect yourself.
