TagNigerian naira

Bitcoin’s Unprecedented Surge Amid Inflation Crisis; Nations Wrestle with Crypto Regulations

In a noteworthy feat, Bitcoin (BTC) skyrocketed to all-time highs against several inflation-beleaguered fiat currencies within a span of just 30 hours from October 23 to 24. The currencies feeling the heat included the Argentine peso, Nigerian naira, Turkish lira, Laotian kip, and the Egyptian pound. Analysts posit that this surge in Bitcoin’s value is chiefly attributed to the continuous devaluation of these national currencies, a situation further exacerbated by Bitcoin’s recent 16% price surge. The fiscal woes for the naira and lira are particularly grim, as they plummeted to their...