Bitcoin price in Turkey exceeded $ 100,000 amid collapse of lira

The price of the first cryptocurrency in the peer-to-peer market in Turkey surpassed the $ 60,000 mark against the backdrop of a 10% collapse of the national currency. This is evidenced by the data of the LocalBitcoins p2p trading platform .

On some sites, the price of bitcoin has risen to 798,344 Turkish lira (about $ 101,000 at the exchange rate at the time of writing).

Data: LocalBitcoins.

The minimum price for digital gold has exceeded 475,000 Turkish lira (about $ 60,000 at the exchange rate at the time of writing).

Data: LocalBitcoins.

According to Google Trends , the number of Bitcoin-related searches in Turkey has grown roughly fivefold in a matter of hours.

Graph of the growth in popularity of the search query “bitcoin” in Turkey. Data: Google Trends.

The Turkish lira has fallen in price after the dismissal of the third head of the central bank in the past two years, Naji Agbal. Turkish President Recep Erdogan made the appropriate decision after raising the key rate from 17% to 19% per annum last week, writes Bloomberg .

Over the past three years, the Turkish lira has depreciated by more than 50%. As a result, more and more investors are paying attention to Bitcoin with its limited emission, wrote journalist Colin Wu.

This is the third time that the governor of the central bank has been revoked since 2019. In the past three years, the Turkish lira has depreciated by more than 50%, causing more investors to turn their hopes on Bitcoin, which has a limited supply of anti-inflation.

– Wu Blockchain (@WuBlockchain) March 22, 2021


Recall that the price of the first cryptocurrency in Nigeria exceeded $ 76,000 after the central bank banned financial institutions from providing services to exchanges and companies related to cryptocurrencies.

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