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Turkey Makes the Case for Bitcoin as Erdogan Runs the Autocrat’s Inflation Playbook

The longtime ruler’s unhinged monetary policy follows a familiar pattern – and it’s pushing some Turks toward bitcoin.

Updated May 11, 2023, 3:55 p.m. Published Nov 19, 2021, 5:27 p.m.
Turkish President Recep Tayyip Erdogan, who has held power for nearly twenty years. Erdogan has cut interest rates despite high inflation, in a short-term bid to prop up Turkey's economy (Antonio Masiello, Getty Images)
Turkish President Recep Tayyip Erdogan, who has held power for nearly twenty years. Erdogan has cut interest rates despite high inflation, in a short-term bid to prop up Turkey's economy (Antonio Masiello, Getty Images)