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Bitcoin searches hit ATH in Lebanon as fiat loses 90% value in 2 years

Cryptopolitan


TL; DR Breakdown

  • Lebanese people are actively searching for Bitcoin
  • The government is seizing bank accounts
  • This trend could be good for BTC

Bitcoin seems to be scoring huge points in Lebanon of late. Reports reveal that the Lebanese people are currently exploring ways to keep their wealth intact, and Bitcoin is emerging as the best option. It appears that Google searches for Bitcoin have skyrocketed in Lebanon.

According to a recent tweet by a BTC enthusiast, the fiat currency (Lebanese pound) has shed off a whole 90% of its value since late 2019. That means that in under two years, the currency has gone from affording decent shopping to only affording a small can of milk. This clearly highlights the problem with fiat currencies that have continuously faced inflation over the years.