- Bitcoin became the most googled word in Turkey after the Turkish lira plunged following President Erdogan’s sacking of the central bank governor. Interest rates in Turkey now stand at 19%. The value of the Turkish lira has lost more than 80% over the last decade against the dollar. Given Erdogan’s “unorthodox” economic views a further descent into hyperinflation and total currency collapse is a more likely scenario than a return to normalcy from here. As the population loses faith in the lira, crypto adoption will likely continue to increase. As a relatively advanced but mis-managed mid-income economy Turkey would be a prime candidate to become a crypto-first country.
- Vitalik Buterin: The Most Important Scarce Resource is Legitimacy
- Bitcoin’s Hierarchy of Needs.
- Elon Musk makes it official: Tesla will accept and hodl Bitcoin.
Wednesday Crypto Reads
Published
Western Decline 