RATE Group | Bitcoin Trades at $15k in Lebanon Amidst Economic Turmoil, Showing Its Real Potential
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Bitcoin Trades at $15k in Lebanon Amidst Economic Turmoil, Showing Its Real Potential

24 Apr Bitcoin Trades at $15k in Lebanon Amidst Economic Turmoil, Showing Its Real Potential

Posted at 17:07h in Cryptocurrency News by

  • Bitcoin tops near $15,000 on Lebanon P2P marketplaces as the country’s official fiat crashes 50 percent in just a month.
  • The bitcoin rate in international is just above $7,500.
  • Lebanon is facing its worst economic crisis, with inflation hitting record highs amidst liquidity crunch.

Bitcoin is trading almost twice its current rate in an economically-hit Lebanon.

Peer-to-peer bitcoin marketplace LocalBitcoins.com shows people selling the cryptocurrency for as high as 22,678,227.03 LBP per token, which roughly equals $15,000. Meanwhile, people who are looking to liquidate bitcoin for local currency are demanding as much as $11,000 per token.

bitcoin, Lebanese pound, btcusd, cryptocurrency

BTCUSD in Lebanon P2P markets jumps above $15,000 | Source: LocalBitcoins, Google

Exchange rates coming out of Lebonan crypto marketplaces are strikingly higher than their global counterparts. Data aggregator Messari shows the bitcoin price a little above $7,500 – almost half than what is the Lebanese traders are asking.

Currency Crisis

Bitcoin hits…

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