© 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.

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.

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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