RATE Group | Turkish turmoil fuels Bitcoin adoption » Brave New Coin
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Turkish turmoil fuels Bitcoin adoption » Brave New Coin

18 Aug Turkish turmoil fuels Bitcoin adoption » Brave New Coin

Posted at 21:21h in Bitcoin News by

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After telling Bloomberg at the Players Technology Summit on Monday how Coinbase grew from a simple wallet into a fully-fledged cryptocurrency platform, Coinbase CEO Brian Armstrong then turned to the ‘future of cryptocurrency’. Armstrong stated that economic crises taking place around the world over the next 3-5 years could be the catalyst to the organic adoption of cryptocurrencies.

“Countries going through economic crisis and pockets of people in those areas are getting interested [in crypto]. There is interest among those people with the highest pain point in having stable currency […] In the next three-five years countries going through economic crisis could see people organically adopting crypto as an alternative”

Turkish turmoil

Proof of Armstrong’s theory is evident in Turkey, as recent turmoil has led citizens to seek financial refuge in bitcoin. As the economy suffered an adverse reaction to Trump’s tariffs on Turkish steel and aluminium, the Lira crashed by…

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