Bitcoin Nears All-Time Highs in Turkey Amidst Soaring Inflation
Wednesday, 3 April 2024, 11:35
Turkish Statistical Institute's Data on Inflation
The recent data showed a 3.16% monthly inflation rise.
Turkish Citizens Turn to Crypto Amidst Inflation Surge
Education and hospitality sectors experienced significant inflation increases, leading to a complex economic landscape.
Central Bank Responses
The central bank raised interest rates to 50% to counter persistent high inflation.
Investor Sentiments
A survey indicated a growing interest in cryptocurrencies among Turkish investors, viewing crypto as a long-term wealth-building tool and a hedge against local currency devaluation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.