Despite a ‘crypto winter,’ digital currency use remains high in Turkey
– Bitcoin’s value has fallen by about 70% since its peak in November 2021.
– Digital tokens have lost about $2 trillion in value over the last 10 months.
– Despite the losses incurred during the “crypto winter”, Turkish traders continue to find utility in cryptocurrencies.
– The popularity of cryptocurrencies in Turkey is driven by high inflation and the desire for alternative investment opportunities.
– Cryptocurrencies are often used for international money transfers due to the low transaction fees.
– There is growing interest from the Turkish government in regulating the cryptocurrency sector.
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