MicroStrategy Founder and CEO Michael Saylor repeated his Bitcoin comment for Turkey with his Twitter post.
Saylor, who said “Bitcoin is hope for Turkey” in his post in the past weeks, stated that the Turkish lira has lost one third of its value against the US Dollar since March and has regressed for 9 years.
After the Central Bank of Turkey announced its interest rate decision yesterday, the Dollar rose against the TL and reached 11.3 levels. Seeing that the dollar was rising against the TL, Saylor shared his thought for Turkey, “Bitcoin is hope for Turkey”.
#Bitcoin is hope for #Turkey. The currency has lost a third of its value since March and declined for nine consecutive years. Conversion from TRY to USD will merely slow the collapse, while adoption of BTC will reverse the damage & revitalize the economy.https://t.co/01oZYAWWfd
— Michael Saylor⚡️ (@saylor) November 19, 2021
The CEO of MicroStrategy, the company that currently holds the most Bitcoin, stated that if Turkey adopts Bitcoin, it will make a positive contribution to Turkey’s economy.
“The currency has lost a third of its value since March and has declined for nine consecutive years. Converting from TL to USD will only slow the collapse, while the adoption of BTC will reverse the damage and stimulate the economy.”
Michael Saylor, one of the leading advocates of Bitcoin and cryptocurrencies, made his comment for Turkey, “Bitcoin is hope”, for Canada last August.
*Not Investment Advice.