Bitcoin Surges to Record Highs in Argentina, Nigeria, Turkey as Local Currencies Plummet
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Bitcoin hits all-time highs in Argentina, Nigeria, and Turkey as local currencies devalue against USD.
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Recent 16% Bitcoin price increase exacerbates new highs. Naira, lira, and peso near record lows vs USD.
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IMF data shows highest inflation for Venezuela, Zimbabwe, Sudan, and Argentina. Nigeria and Turkey at 25% and 51%.
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Crypto seen as inflation hedge. Nigeria, Turkey, Argentina have high adoption rates.
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Argentina presidential election could impact inflation crisis. Candidates divided on cryptocurrency and central banking.
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