Economic Turmoil in Turkey Raises Bitcoin Value

Economic Turmoil in Turkey Raises Bitcoin Value

As the Lira continues its decent, Bitcoin.org has experienced an influx of Turkish visitors.

Turkey has been in the throes of economic turmoil as the United States levied sanctions on the country’s steel and aluminum exports. This caused the Turkish Lira to further drop in value by 6.6% against the U.S. dollar. Subsequently, its citizens are now finding fiscal hope in Bitcoin. The ability of cryptocurrency to transform the financial archetype is evident, as there has been a recorded rise of 42% traffic in Bitcoin.org website and the BTC/TRY pair has increased to 100% in volume as of yesterday.

As the Turkish Lira drops, Bitcoin value climbs.

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