© Reuters. Edward Snowden, Michael Saylor have a word for Lebanon after abrupt currency devaluation: ‘Bitcoin’
Benzinga – Former US intelligence contractor edward snowden He said that Bitcoin is a solution to the sudden devaluation of Lebanon’s currency.
*whispers* bitcoin fixes this pic.twitter.com/wSxQgMnM9m
— Edward Snowden (@Snowden) January 31, 2023
What happened: According to a Reuters report, Lebanon said on Tuesday it will officially adopt a new exchange rate of 15,000 Lebanese pounds to the US dollar, a 90% devaluation of its current rate.
The government’s recent decision to change the exchange rate of the Lebanese pound from 1,507 to 15,000 is still a long way from the parallel market rate, where the pound was trading at a much higher rate of 57,000 to the US dollar on Tuesday.
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CEO of MicroStrategy Inc (NASDAQ:MSTR) michael saylor He also said that Bitcoin is the hope for Lebanon.
#Bitcoin is hope for #Lebanon. https://t.co/LjKJWkudFr
— Michael Saylor� (@saylor) January 31, 2023
Meanwhile, the price of Bitcoin in Nigeria has risen to well above the global market average, thanks to the Central Bank of Nigeria’s call for a digital and cashless economy. On NairaEX, a Nigerian crypto exchange, one Bitcoin is currently worth a whopping 17.2 million naira, which is a whopping $37,296.
price action: At the time of writing, BTC It was trading at $23,105, up 1% in the last 24 hours, according to Benzinga Pro.
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