Notwithstanding the Ukraine war, 2022 will most likely go down in history as the year of inflation. Following decades of sub-5% inflation in the United States and the European Union, prices have risen by around 9% in both areas, driven predominantly by supply shocks to energy and food (not to mention quantitative easing).
But as bad as 9% is for economies that have enjoyed 2% inflation or lower for many years, it’s still not as bad as the inflation wreaking havoc on the Turkish economy. Newly published official figures put year-on-year inflation in Turkey at 80%, while unofficial measures suggest real inflation topped 140% as far back as April.
Such eye-watering figures have hit Turkish residents hard, yet many have found one fairly novel means of lessening the impact of inflation: cryptocurrency. Yes, while Turkey’s reputation as an undemocratic nation might imply that crypto isn’t welcome in the Eurasian nation, it boasts one of the highest cryptocurrency ownership rates in the...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...