Michael Saylor Says BTC is The Hope for Lebanon Financial Crisis
CoinEdition
Published Nov 06, 2022 04:54AM ET
Michael Saylor Says BTC is The Hope for Lebanon Financial Crisis
- Saylor suggested Bitcoin as the hope for crisis-ridden Lebanon.
- A report by CNBC revealed that Lebanon’s currency lost 95% of its value to USD.
- The price of Bitcoin crossed the $21k price point late last week.
Michael Saylor, the chairman of MicroStrategy, has recommended Bitcoin as the sole hope for the crisis-ridden middle east country, Lebanon.
Saylor made the declaration yesterday on Twitter while commenting on a report by the Consumer News and Business Channel (CNBC). The report revealed that the Lebanon pound in recent times lost over 95% of its value against the United States Dollar (USD).
In other news, the price of the most valuable cryptocurrency, Bitcoin (BTC), crossed the $21k price point late last week. Consequently, the crypto market gained over $40 billion that week, putting the global market value at over $1.053 trillion.
However, in the last 24 hours, top cryptocurrencies have been slightly in the red. BTC dropped by 0.5%, while Ethereum (ETH) lost 1.25% of its value. Of the top ten coins, the Binance coin (BNB) is the best-performing token within the last seven days, with an over 11% increase.
The post Michael Saylor Says BTC is The Hope for Lebanon Financial Crisis appeared first on Coin Edition.
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