Bitcoin is as popular as forex in Turkey — a country whose currency continues to tank, as the top-ranked cryptocurrency is seeing growing adoption across the land.
Bitcoin a Viable Option in Turkey
Tweeting on Sunday (September 8, 2019), Didi Taihuttu of “The Bitcoin Family” — who famously sold all his belongings to go all-in on bitcoin revealed the growing popularity of the cryptocurrency in Turkey.
So you think Bitcoin is not known in #Turkey. Check this and see the whole video on our youtube channel 🔥🚀🔥 https://t.co/P9WPuNyIbH #bitcoin #thebitcoinfamily #sharingiscaring pic.twitter.com/ETkMt4Dchk
— ₿ Didi Taihuttu ₿ (@Diditaihuttu) September 8, 2019
The tweet shows a video of a billboard along a city street in Turkey advertising bitcoin along with other foreign currencies. On the screen are the current exchange rates for each currency of the listed currencies.
The video is yet another glaring example of bitcoin’s growing popularity in Turkey as the Lira continues to plummet. Meanwhile, the government says forex deposits are putting downward pressure on the country’s fiat.
No Forex, No Problem
While authorities have stopped short of introducing stringent capital controls, forex can still be difficult to acquire in Turkey. Such a situation has seen more people making a pivot to bitcoin adoption as a way of safeguarding their wealth.
For the Turkish government, the continue Lira woes are down to “sinister foreign influences” keen on weakening the country’s economy.