A study of several European countries has shown that in Turkey, the majority of crypto investors are at home. Thus, almost every fifth Turk is supposed to be currently in possession of Bitcoin, Ether, or other Coins. What does this tell us about the location of crypto-currencies in the crisis-ridden economies, such as Turkey?
In a recent study by the French statistics Agency, has compared the number of crypto-investors in a total of 15 countries. Including Austria, France, the United Kingdom and the USA were in addition to Germany. Surprisingly, one of the countries referred to, however, was not the Top address of the crypto-investors, but Turkey. Thus, the percentage of people that crypto-currencies is, in Turkey the highest.
Turkey: for Many investors, a lot of Conviction
About 18 percent of people in Turkey keep, therefore, currently a minimum of a crypto-currency. The investigated European countries, however, in comparison to only 9 percent. In the United States, only eight percent of the population of crypto-keeping according to the study of the currencies in the Australia it should be only seven percent.
The study also showed that many people in Turkey are convinced that crypto-currencies in the long term, be able to enforce. More than half of Turks (53 percent) believe that crypto-currencies will be in the future, the most popular payment method for Online transactions. Almost as many (51 percent) expect that the value of crypto-currencies will rise over the next year. Accordingly, 45 percent of people in Turkey are planning to invest in crypto-currencies.
What does this tell us?
It is extremely striking that in Turkey there are a high proportion of crypto-enthusiasts and potential investors. In Europe, for example, only 35 percent of citizens believe that crypto-currencies to rise, only 25 percent would invest. But what the Turks, in so conspicuous a way to Cryptocurrencies?
Part of the justification for the existence of the basis of Bitcoin is certainly. The Bitcoin was created as a response to the financial crisis in 2009, out of distrust of the traditional financial sector. Many people had lost confidence in centralized actors, such as States or banks. And nowhere is this reaction of the citizens is more than in countries whose political System is eroded and the economy is on the rocks.
At first glance, the Turkey is a stable state with a head of state and government, is firmly seated in the saddle. But it is precisely here that the Problem begins to develop. The rapid economic growth of the last decade is coming to an end, especially foreign investors leave the country. Even the President himself is not the least debt, the isolated location of Turkey, with its increasingly nationalist and Islamic-conservative rhetoric. To internal repression, scratching at the image of Turkey abroad.
Crypto currencies are strong there, where institutions are weak
The result is not only a strong division of the society in which almost half of the citizens of the government, to trust less and less. The economic situation also results in a worsening of Inflation, the Turkish Lira became noticeable. Distrust of political and economic institutions? A fertile ground for crypto-currencies as a medium of Exchange and a store of value.
In Turkey, as in the Small, what happened in the decay of States. In Venezuela, the Bitcoin has replaced in Parts of the country, the ailing national currency already, in Zimbabwe, the people trust Bitcoin more than their own government. The Turkey can be set with these two cases, a certain Trend is visible.