Bitcoin adoption skyrockets in Turkey

English Aug 27, 2019

Turkey's economy has been going through a difficult period. According to Reuters, the country's industrial production has fallen for 10 consecutive months. The government also brings some bad news, declaring a deficit of 12.3 billion for the first seven months of the year.

In this scenario of economic uncertainty, there seems to be a large audience turning to Bitcoin for stability. According to Coinhills, the Turkish lira is the seventh placed in the ranking of the most traded currencies during August. Another data consistent with this idea is found in a survey conducted by Statista that points to Turkey as a leader in the adoption and use of cryptocurrencies, presenting a rate of 20%.


Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.