An increase in bitcoin searches coming from Turkey has occurred in the last 24 hours, after the news of the “dip” by 14% recorded by the Turkish lira.
According to foreign media, searches for bitcoin via Google have jumped by 566%, while the increase began to be marked at a rapid pace immediately after the news of the fall of the lira.
The value of the Turkish currency began to fall after President Erdogan’s decision to fire Central Bank Governor Naci Agbal, who had managed to “pull” the lira from a record low, in part because it raised interest rates to fight inflation.
According to BBC, the beheading of Naji Agbal shocked both domestic and foreign investors.
From the beginning of 2021, the Turkish lira regained 1/5 of its value compared to the dollar. The 14% drop began amid concerns that Agbal’s progress could be hampered by the appointment of new governor Sahab Kavtzioglu, a banker and politician who is said to oppose the use of high interest rates to fight inflation.
However, it is not only Turkish citizens who are looking at cryptocurrencies with a fresh look. In early March, Turkey’s finance minister announced that he intended to co-operate with the country’s Central Bank and relevant authorities to provide a clear line on the use of cryptocurrencies.
“We share the growing concern of people about cryptocurrencies,” the ministry said in a statement”.