Bitcoin Surges to All-Time Highs in Turkey and Nigeria
Massive inflation and sliding purchasing power of national fiat currencies has likely boosted demand for bitcoin.
Declining national fiat currencies and a generally unstable economy have helped propel bitcoin (BTC) to all-time high prices in Turkey and Nigeria, despite the asset trading 50% below its peak in the U.S. dollar terms. Recent price surges have caused bitcoin to cross price peaks against the Turkish lira and the Nigerian naira, data shows. As of Friday morning, bitcoin traded at 9.6 million against lira (TRY) and 27.4 million against naira (NGN), extending monthly gains to as much as 30% in local currency terms.
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Bitcoin Surges to All-Time Highs in Turkey and Nigeria
Massive inflation and sliding purchasing power of national fiat currencies has likely boosted demand for bitcoin.
Declining national fiat currencies and a generally unstable economy have helped propel bitcoin (BTC) to all-time high prices in Turkey and Nigeria, despite the asset trading 50% below its peak in the U.S. dollar terms.
Recent price surges have caused bitcoin to cross price peaks against the Turkish lira and the Nigerian naira, data shows. As of Friday morning, bitcoin traded at 9.6 million against lira (TRY) and 27.4 million against naira (NGN), extending monthly gains to as much as 30% in local currency terms.
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