Pres. Trump's Financial Threat To Turkish Economy Might Push It To Find Safe Haven In Bitcoin

    The United State's President Donald Trump is known for his Twitter rants where he has threatened several nations over war and financial trade sanctions quite casually. Recently, it was Turkey's turn where he threatened to “destroy and obliterate” its economy.

    The US President is well-known for his attitude towards diplomacy and has given similar threats to Iran as well.

    The US Dollar is the ultimate global currency for trade which makes trade sanctions a very lethal weapon for crumbling country's economies. However, with the emergence of Bitcoin as a decentralized and non-mutable digital currency, more and more nations are turning towards the digital asset to survive such harsh trade sanctions.

    Venezuela was among the first crippling economy brought upon them by hyperinflation and trade sanction to turn towards Bitcoin for survival. Iran after being threatened by the US decided to invest in cryptocurrencies and regulate them to bypass those sanctions. Turkey as well might join the Bitcoin league to avoid such harsh sanctions.

    The Centralized Financial System was Always due for Such Nuisances

    The centralized financial system is the sole cause of such economic sanctions and bullying, where the US dollar having a monopoly in the international trade market is using it to destroy the less powerful and those who refuse to dance to their beats.

    Bitcoin was not born out of the blue, but, because of the 2008 financial mess that was brought upon us. Satoshi Nakamoto wrote the Bitcoin white paper right after the major financial crisis in 2008 and looking at the present condition of the international market, the falling currency market and the ever-increasing debt market another financial debacle is on the cards.

    Turkey might join the league of China, Iran and many other nations who have either gone on to create a central bank-issued digital currency like China or have regulated crypto use among trade sanctions feats like Iran and Iraq.

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    Hank Klinger
    Hank Klinger
    Hank Klinger has been working online for seven years now. He has written for several national companies. Hank has been a part of our team for over three years, reviewing ICOs, new cryptocurrencies and helping us keep up to date with industry news. His primary knowledge is in marketing, sales, and advertising, and he uses that knowledge to research and pick out reliable sources of information to use as a basis for his writing.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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