Bitcoin and the S&P 500 may have strongly recovered from their March lows, but it’s been a dismal quarter for the world’s economies.<\/p>\n
Unemployment has skyrocketed, consumer confidence is crashing, and against the U.S. dollar, foreign currencies are falling off a cliff.<\/p>\n
The latter issue is especially pertinent in Turkey, where the Turkish lira is slumping and economic and social policies have purportedly become increasingly hostile.<\/p>\n
With the country being a hotbed for crypto adoption,<\/a> reports indicate<\/a>, a leading fund manager has said that Bitcoin could be a better bet to take than Turkey and maybe other emerging markets.<\/p>\n All of the world’s economies may be suffering, but in Turkey, it’s especially bad.<\/p>\n On the tussle between policymakers, economists, and the media, Middle East Eye reported that the past week has seen the value of the Turkish lira fall to a historical low against the U.S. dollar. This comes as the Turkish government has targeted “foreign powers” for its currency woes, though critics accuse the government of causing the drop.<\/p>\n Whatever the case, prominent gold proponent and fund manager Dan Tapiero remarked<\/a> that with this economic “nonsense,” Bitcoin is making sense as “an emerging market play.”<\/p>\n Why would anyone invest in Turkey with this nonsense going on?<\/p>\n Lending them $400 billion not a good idea. Not sounding like they are interested in "partnering" with investors.<\/p>\n 20% of country has used\/owned cryptocurrency.#bitcoin<\/a> as emerging mkt playhttps:\/\/t.co\/vrrDO1yWlX<\/a><\/p>\n — Dan Tapiero (@DTAPCAP) May 19, 2020<\/a><\/p><\/blockquote>\nRelated Reading: Crypto Tidbits: Bitcoin Halving, Reddit Using Ethereum, JP Morgan Dabbles in Crypto<\/a><\/h6>\n
Turkey Could Be a Boon for Bitcoin<\/strong><\/h2>\n
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