Bitcoin Adoption Soars in Turkey Amid High Inflation, Lira Hitting Record Low ... Steve H. Hanke, Professor of Applied Economics at the Johns Hopkins University and a hyperinflation expert, said Turkey’s annual inflation rate is at 36.57% and climbing. “The lira is toast,” he tweeted Sunday. “Turkey is burning through its foreign exchange reserve like a house on fire,” the professor ... People in Turkey are increasingly turning to bitcoin as the local currency, the Turkish lira, recently hit another record low against the dollar. Bitcoin adopti The Iranian government has adopted bitcoin for international trade as the country's economic crisis deepens, with rising Covid-19 cases, depreciating rial, and intensifying sanctions imposed by ... Lebanon has entered hyperinflation, the first country in the Middle East and North Africa to do so. With a 462% annual inflation rate and food prices rising by almost 200% this month, Lebanon has ... Steve H. Hanke, Professor of Carried out Economics on the Johns Hopkins College and a hyperinflation skilled, stated Turkey’s annual inflation fee is at 36.57% and hiking. “The lira is toast,” he tweeted Sunday. “Turkey is burning thru its foreign currencies reserve like a area on hearth,” the professor endured, noting that its reserves recently stand at $41.12 billion, down nearly ... An economics professor and Nobel Laureate from John Hopkins University, Steve Hanke has struck back at Bitcoin again, saying it is “a highly speculative asset, not a currency”. He was responding to an article published by CoinDesk that says Bitcoin has recorded double-digit growth for the third week in a row.. Bitcoin recorded the same growth in 2017
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