The president of Turkey, Recep Tayyip Erdoğan, is turning into cryptocurrencies, as the national lira has been experiencing a downfall for the last few years. Turkey’s high inflation is disrupting the country, and cryptocurrency analysts believe that Bitcoin could help solve the country’s prolonged issues with inflation.
Erdoğan recently had a meeting with El Salvador’s president Bukele to discuss the potential of cryptocurrencies. Being against digital assets for a while and even banning crypto in the country, the Turkish leader now instructed his AK party members to research blockchain and cryptocurrency. The Central Bank of Turkey used to claim that crypto could cause permanent damage and user risks.
Turkish investors believe in the metaverse and have put money into the virtual land. Istanbul has over 11,000 lots in the metaverse that include the city’s iconic streets and trendy neighborhoods. Prices range from $15 – 40 to have a piece of Istanbul in the virtual world. Earlier in January, the Turkish government held a meeting in the metaverse to discuss the upcoming crypto regulation.
“I believe that metaverse-based meetings would be improved expeditiously and become an essential part of our lives,” Grand National Assembly of Turkey chairman Mustafa Elitaş said.
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